India is proposing to build the refinery in the Thanlyin region near Yangon, official sources said. “As of now, IOCL has shown interest in the project,” said a source, adding that this would be a beneficial deal for both countries.
China currently accounts for almost 70 percent of foreign investment in Myanmar’s energy sector. However, India’s eastern neighbor, straddling the India Act East and Neighborhood First policies, has very few refineries and imports primarily account for its domestic fuel consumption.
During their joint visit, Shringla and Naravane also visited State Councilor Daw Aung San Suu Kyi and the Commander-in-Chief of Defense Services, Senior General Min Aung Hlaing.
The two sides also discussed, as the government said in a statement, maintaining security and stability in their border areas and reiterated their mutual commitment not to allow their respective territories to be used for “activities that are enemy to each other.” The government appreciated Myanmar’s decision to hand over 22 Indian insurgents to India.
Interestingly, Shringla and Naravane presented 3,000 vials of Remdesivir to the State Councilor. India said it was a symbol of its commitment to help Myanmar in the fight against the pandemic.
The visit also saw India underscoring its commitment to working with Myanmar and Bangladesh for an early stabilization of the situation in the conflict-ravaged Rakhine state. India and Myanmar improved a Rakhine State The Development Program Agreement (RSDP) aimed to address the challenges faced by agricultural productivity by using agricultural machinery and equipment more effectively and efficiently. This, in turn, is expected to improve the socio-economic situation of the Rakhine population, official sources said.
Bangladesh’s Foreign Minister AK Momen had recently warned that failure to resolve the humanitarian problem, which involves the repatriation of the Rohingya, would lead to radicalism and terrorism that would hamper peace and stability in the region.
India reiterated its position to Myanmar that it supports the safe, sustainable and speedy repatriation of displaced persons from Bangladesh to Rakhine State on the basis of understanding between Bangladesh and Myanmar.
“India fully understands the urgency of this situation and has engaged humanitarian efforts in both Myanmar and Bangladesh to facilitate the early return of displaced people. India has provided 5 tranches of relief supplies to Bangladesh and is ready to do more,” he said An official. source, adding that India was extending socio-economic development assistance with health, education and agriculture projects in Rakhine through a grant of $ 5 million per year.
During the visit, India also announced a $ 2 million grant for the construction of the haat border bridge at Byanyu / Sarsichauk in Chin state, which is expected to improve economic connectivity between Mizoram and Myanmar.
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