Aiming to further boost bilateral trade ties, India and Myanmar will soon ink a Memorandum of Understanding for the creation of a joint trade committee.

The MoU, to be signed during the visit of Commerce and Industry Minister Arun Jaitley to Myanmar beginning July 14, will pave the way for setting up of a trade committee, which will meet at regular intervals to explore the possibilities of boosting bilateral trade, official sources told PTI in New Delhi.

Jaitley is scheduled to meet his Myanmarese counterpart during his three-day visit and is also expected to look into the difficulties faced by the Indian companies operating there due to discontinuation of import and export licences to foreign trading firms.

In April-September 2002, Myanmar's exports to India were to the tune of $194.22 million while its imports stood at $59.91 million.

India's total exports to Mayanmar were at $39.26 million as against imports worth $197.32 million.

Their total trade, which stood at about $328 million in 1997-98 has witnessed a rise with balance of trade in favour of Myanmar.

Myanmar is the second largest supplier of beans and pulses and fifth largest supplier of timber to India while India exports steel, steel bars, drugs and pharmaceuticals, cotton yarn, auto parts beetle nut, resins and medicinal herbs.