New Delhi: India and Myanmar on June 1, Monday agreed to facilitate and enhance bilateral trade through the Rupee-Kyat settlement mechanism and backed closer cooperation in agro-processing, petroleum, energy and mining. The Myanmar President is on an official visit to India from May 30 to June 3 at the invitation of Prime Minister Narendra Modi. This is Min Aung Hlaing’s first foreign visit after he assumed the charge as the President of the Southeast Asian country back in April.
According to a joint statement issued following Prime Minister Narendra Modi and Myanmar President U Min Aung Hlaing’s high-level talks, “Both sides agreed to facilitate and enhance bilateral trade, including through the Rupee-Kyat settlement mechanism and appreciated the steady growth in the volume of transactions recorded since its operationalisation in May 2024”.
“Both sides also expressed support for closer trade and investment cooperation in the areas of mutual interest, such as agro-processing, petroleum, energy and mining sectors, in accordance with their respective national laws and regulations”, the joint statement further added.
PM @narendramodi held wide-ranging discussions with President U Min Aung Hlaing of Myanmar on further deepening India-Myanmar bilateral ties.
Anchored in the enduring historical and people-to-people relationship, both sides agreed to advance 🇮🇳-🇲🇲 partnership for peace,… pic.twitter.com/kYt5cPl7NE
— Randhir Jaiswal (@MEAIndia) June 1, 2026
PM Modi stated that Myanmar lies at the confluence of India’s Neighbourhood First, Act East and MAHASAGAR policies and discussions covered trade and economic ties, defence and security, border management, development assistance and cultural exchanges. On connectivity, PM Modi underlined that “enhanced connectivity would foster mutually beneficial economic linkages and shared prosperity in the region”. Both sides shared the importance of working towards the completion of the Kaladan Multi-Modal Transit Transport project and the India-Myanmar-Thailand trilateral highway.
Foreign Secretary Vikram Misri, during the briefing, also stated that Myanmar assured India that it will do “everything” to push two key connectivity projects, stalled due to active hostilities in the Southeast Asian nation. The Foreign Secretary noted that the Kaladan Multi-Modal Transit Transport Project and the India-Myanmar-Thailand Trilateral Highway have faced delays due to security challenges, noting that both projects remain a “major priority” despite delays.
Following his meeting with PM Modi, the Myanmar President also met President Droupadi Murmu at the Rashtrapati Bhavan, during which President Murmu described Myanmar as India’s “gateway to Southeast Asia”, underlining the strategic importance of ties between the two neighbouring countries.
Min Aung Hlaing concluded his Delhi leg of his first official visit to India and is scheduled to travel to Mumbai for further engagements from June 2. At the start of his visit on May 30, President Hlaing travelled to Bodh Gaya, where he offered prayers at Mahabodhi Temple, Mahabodhi Meditation Centre and Sujata Temple. Thus, the visit also underscored the enduring spiritual and Buddhist ties, as well as the people-to-people links, between the two countries.
President Hlaing visit to Mumbai will be accompanied by a business delegation from agriculture, pharmaceuticals, energy, banking, construction, IT, communications, trading and logistics sectors, along with members of the Myanmar-India Friendship Association. The visit thus aims to strengthen India-Myanmar business, trade and economic partnership.
(With Inputs from ANI)
