Kolkata, March 19: Public sector United Bank of India (UBI) will soon come out with a proposal to boost trade between India and Myanmar, a top official said Monday.
“UBI has taken the initiative of providing help to traders of India and Myanmar,” UBI chairman and managing director Bhaskar Sen said here.
“Our proposal will help traders of both India and Myanmar,” he added.
Sen spoke on ‘Enhancing Indo-Myanmar Business Relation” at an event organised by the Bengal National Chamber of Commerce and Industry (BNCCI) here.
“Currently, trade (with Myanmar) in US dollar is very difficult. Official trade between the two countries now takes place through Euro and Singapore dollar, which is very expensive,” he said.
Trade between India and Myanmar stood at $1.3 billion is expected to clock $3 billion by 2015.