(a) whether the Union Government are exploring possibilities for establishment of
banking Serivces in Myanmar; and
(b) if so, the progress made so far in this regard?
(a) whether the Union Government are exploring possibilities for establishment of
banking Serivces in Myanmar; and
(b) if so, the progress made so far in this regard?
THE MINISTER OF STATE IN THE MINISTRY OF FINANCE (SHRI BALASAHEB ViKHE PATIL):
(a) and, (b) Ministry of Commerce & Industry (Department of Commerce) have reported that
in the Second Senior Trade/Economic Officials` Meeting (STEOM) of the ;Sangaldesh, India,
Myanmar, Sri Lanka and Thailand Economic Co-operation (BIMST-EC), a forum under the
Ministry of Commerce, held in Yangon, Myanmar, on 14th February, 2001 it was agreed that
having proper banking arrangements is crucial for facilitating growth of trade among
member countries and recommended consideration of setting up an Expert Group
comprising representatives of the Central Banks. Action has been initiated to set up the
Expert Group.