YANGON, Dec. 24 (Xinhua) -- India has granted 18 more items of goods for trading in border area with Myanmar, bringing the total which the Indian side allows to 40, the local weekly journal 7-DayNews reported Wednesday, quoting the Ministry of Commerce.
The 18 items of goods include bicycle spare parts, live-saving drug, fertilizer, insecticide, cotton fabrics, stainless steel utensils, cosmetic, leather foot wear, paint and varnish, sugar and salt, X-ray and photo papers, and jewelry, it said.
The addition of the 18 trading goods items came after the 3rd meeting of Myanmar-India Joint Trade Committee held in Myanmar's second largest city of Mandalay during Indian Minister of State for Commerce and Power Jairam Ramesh's second visit to Myanmar in October this year.
India stands as Myanmar's second largest export market after Thailand and the fourth largest trading partner after Thailand, China and Singapore. The majority of Myanmar's beans and pulses were exported to India.
Meanwhile, the Union of Myanmar Federation of Chambers of Commerce and Industry and the State Trading Corporation of India agreed last month to maintain regular trade deal on beans and pulses with the Indian side proposing to purchase Myanmar quality beans and pulses at international current prices on a monthly basis.
According to official statistics, Myanmar exported 1.34 million tons of various beans and pulses to India in the fiscal year 2007-08 which ended in March, earning about 700 million U.S. dollars.
The year's Myanmar-India bilateral trade was registered at 995 million dollars with Myanmar's exports to India accounting for 810million dollars and its imports taking 185 million dollars. Myanmar enjoyed a trade surplus of 625 million dollars.
In the latest development, Myanmar and India are deliberating to upgrade its border trade carried out at Reedkhoda (India) and Tamu-Moye (Myanmar) to normal trade.