India-Myanmar Sign Key Deals; Agree To Strengthen Border Security

In a new push to strengthen bilateral relations, India and Myanmar today (19 October) signed three deals in key economic sectors. The two countries also agreed to strengthen border security.

They sealed three agreements in the power, banking and insurance sectors following delegation-level talks headed by Prime Minister Narendra Modi and the southeast Asian nation's State Counsellor and Foreign Minister Aung San Suu Kyi.

One memorandum of understanding (MoU) was signed on cooperation in the power sector. A second MoU was signed on banking supervision between the Reserve Bank of India and the Central Bank of Myanmar while a third MoU was inked for designing an academic and professional building programme for the insurance industry of Myanmar.

The countries also agreed to coordinate on border security. "We have agreed that a close coordination to ensure security in the areas along our border, and sensitivity to each other's strategic interests, will serve the interests of both our countries," Modi said. India shares a 1,600-km border with Myanmar.

Modi said India had offered to scale up power supply from Moreh in Manipur to Tamu in Myanmar and also partner in a pilot LED electrification project at a site designated by Myanmar.

Suu Kyi said Myanmar wanted a rule of just laws "and for this we look forward to the experiences of the Lok Sabha and other legislative bodies. We believe India with its experience can help us in our endeavours."

Both sides also agreed to enhance engagement in several areas including agriculture, renewable energy and power sectors.

With inputs from IANS.