India, Myanmar target $ 3-bn bilateral trade

Nay Pyi Taw (PTI): Setting a bilateral trade target of $3 billion, India and Myanmar on Thursday discussed ways to enhance economic cooperation in sectors like textiles, infrastructure, oil and gas. Commerce and Industry Minister Anand Sharma, who is here on a three-day visit, met Energy Minister of Myanmar U Than Htay and conveyed the interest of Indian banks in setting up their branches in Myanmar. "India will also be happy to assist in strengthening the banking system in Myanmar as we inherit common banking laws," Sharma said adding both the sides set a bilateral trade target of USD 3 billion by 2015. In 2012, the total trade between the countries stood at $1.87 billion. The minister also met Daw Aung San Suu Kyi, Chairperson of the National League for Democracy (NLD). Expressing keen interest in building linkages with the Indian textiles sector, Suu Kyi said that its handloom sector had immense potential for Myanmar. She sought India's help in developing a full value chain for silk production in Myanmar. Further, Sharma conveyed India's interest in deepening cooperation in procuring energy, oil and natural gas from Myanmar. "Our companies are interested in securing more exploratory oil and gas blocks both onshore and offshore," Sharma said and Htay also touched on the issue of reviving discussions on the gas pipeline connecting India and Myanmar through Bangladesh. He said that India is ready to assist Myanmar in the development of its infrastructural projects.

Suu to run for President Naypyidaw (AFP): Myanmar opposition leader Aung San Suu Kyi on Thursday declared that her intention to run for president, calling for all of the country's people to share the fruits of its dramatic reforms. Addressing the World Economic Forum (WEF) on East Asia in the capital Naypyidaw, the Nobel Peace laureate appealed for the amendment of the military-drafted constitution which prevents her from leading the country. "I want to run for president and I'm quite frank about it," the veteran democracy activist told delegates, as she sets her sights on elections due to be held in 2015. "If I pretended that I didn't want to be president I wouldn't be honest," she added. The current constitution blocks anyone whose spouses or children are overseas citizens from being appointed by parliament for the top job. Suu Kyi's two sons with her late husband Michael Aris are British and the clause is widely believed to be targeted at the Nobel laureate.