India, Myanmar sign three agreements in sectors of power, banking and insurance

New Delhi: India and Myanmar on Wednesday signed three agreements 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. “#IndiaMyanmar: Partners in Progress - The two leaders witness exchange of agreements in sectors of power, banking and insurance,” External Affairs Ministry spokesperson Vikas Swarup tweeted.

#IndiaMyanmar: Partners in Progress - The two leaders witness the exchange of agreements in sectors of power, banking and insurance pic.twitter.com/JAttQY4ccA

— Randhir Jaiswal (@MEAIndia) October 19, 2016

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. Suu Kyi met Modi on the third and concluding day of her state visit to India. On Tuesday, she met President Pranab Mukherjee and External Affairs Minister Sushma Swaraj. Though Suu Kyi is not the President as Myanmar’s constitution bars her from this post, the Nobel peace laureate is effectively the de facto ruler of the country. This is the first official visit of Suu Kyi to New Delhi since her National League for Democracy (NLD) assumed power in Myanmar in March this year. Prior to reaching New Delhi on Monday for the state visit, she attended the BRICS-Bimstec Outreach Summit in Goa on Sunday. Her visit comes after Myanmar President U Htin Kyaw’s visit to India in August this year.