India will seek to accelerate the path-breaking Kaladan multi-modal transit project that will provide an alternative route to the north-eastern states and later to South-East Asian countries through Myanmar. India will seek to hold discussions to ensure that the project is completed by May 2012, a year ahead of schedule.
This project will provide a shorter route to many north-eastern states. At present, all traffic is routed through the narrow and congested chicken neck corridor via Assam and West Bengal.
India will also sign four economic cooperation agreements, including a Bilateral Investment Promotion Agreement (BIPA) . The second pact would be for a $64 million credit line agreement for financing three transmission lines in Myanmar.
The third agreement would be for a $20 million credit line for an aluminium conductor steel reinforced wire manufacturing facility. The United Bank of India and the Myanmar Economic Bank would sign the fourth agreement for providing a banking arrangement to implement the border trade agreement at Moreh in Manipur.
India also donated $200,000 (about Rs.80 lakh) to the trustees of the sacred Shwedagon Pagoda in Yangon. The contribution will assist in the repair of the holy shrine following damage caused to it by the recent Hurricane Nargis. India was among the very first countries to send relief supplies as well as team of doctors to Myanmar in the aftermath of Hurricane Nargis.
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