MOU signed to promote trade, friendship and education between two business groups of India and Myanmar

IMPHAL: In order to promote friendship, trade, socio-economic development and to increase mutual understanding between India and Myanmar, a memorandum of understanding (MOU) was signed between two business groups of the two countries today at the district commissioner office located at Tamu, Sagaing, Myanmar.

The memorandum was signed between director of Chindwin Development Limited (CDL), Myanmar, Soe Myint and secretary of Business Excellence Group, Manipur, India, Hiro Thokchom in presence of convener of Act East Policy Committee, State government, R.K. Shivachandra.

It is said that the MOU was singed under the motives of working together and to bring growth on economic and social development projects that may take place for mutual benefit for the two countries especially in the Sagaing region.

The purpose for signing of the memorandum is to support and promote the friendship and mutual understanding between the two nations, to promote solidarity, mutual amity, respect and neutral assistance among the regional residence around the border races, and to promote socio-economic development activities including education, health, economy, transport and communication and create a modern and developed region at the border area.

In the agreement, it is mentioned that in according with the law of each nation each party will be required to provide proof of coverage for all the mandated insurance required by the states or states in which work will take place and include fair labour practices and any other mandates of the affected state or states where the operation are taking place.

Executive help and support activities will be made upon the occurring opportunities for the advantage of both the parties with collaboration. Both have the duty to assist the region in carrying out the matters like preservation and safeguarding of cultural heritage, environmental conservation, striving for development of human resources, development in investments, safe and convenient logistics, and strive to improve the living standards of the people for both the countries in the border area.

It also mentioned that the MOU shall not be considered as a work contract for a certain project. Instead it is and will be viewed as a document to set forth a procedure for the two parties to come together on the project.

The agreement will remain effective till October 31, 2023. It would be become void if the one of the authorised officials from both the parties wanted to modify or terminate by mutual consent and in the absence of mutual agreement.

Speaking to media persons, Soe Myint said the agreement will strengthen the tourism in both the nations. The agreement not only will include promotion of trade and commerce between the two nations but it will bring mutual understanding. The agreement would give positive impact in studies and others, he added.

On the other hand, Hiro Thokchom said the MOU will bring good relationship in trade, promotion of communication between the two nations. It would also bring intimacy in cultural exchange which is one of the main reason to bring development in the both the nations, he added.

Delegates from CCL, general secretary of Imphal Mandalay Transporters Union, H. Bijen Mangang, president of Border Trade Chambers of Commerce, Pula Mao and others attended the meet.

Source: Imphal Free Press