The Prime Minister,Dr.Manmohan Singh and the President of Myanmar,Mr.Thein Sein,at the bilateral meeting,at Naypyidaw,Myanmar
Nay Pyi Taw: The diplomatic relationship between Indian and Myanmar touched a new height on Monday when India said it will give a USD 500 million line of credit to the Asian nation.
Both the nations signed agreements on several issues on Monday.
Export-Import Bank of India and Myanmar Foreign Trade Bank signed the Memorandum of Understanding (MoU) regarding USD 500 million line of credit.
Both the Asian nations signed several other agreements including air services agreement.
The Asian nations signed MoU in several sectors including India-Myanmar border area development, joint trade and investment forum, establishment of the Advance Centre for Agriculture Research and Education (ACARE), establishment of Rice Bio Park at the Department of Agricultural Research in Nay Pyi Taw and cultural exchange programme ( 2012-2015).
Indian Prime Minister Manmohan Singh, who is on a three-day visit to Myanmar, met Myanmar President U Thein Sein on Monday .
Both the leader discussed on several topics during the meeting.
"The two leaders underscored that bilateral relations between India and Myanmar are rooted in shared history and geography, culture and civilization," read a joint statement issued by India and Myanmar.
"Welcoming that the range and frequency of engagement between the two countries had intensified significantly since Myanmar's transition towards a more democratic form of Government in March 2011, they committed to further enhancing these exchanges so as to take bilateral cooperation to a higher level," read the statement.
Singh on Sunday began a three-day visit to Myanmar.
The Prime Minister is visiting Myanmar at the invitation of Sein.
This is visit in not only Singh's first visit to Myanmar, but also the the first visit by an Indian Prime Minister to the country after a gap of 25 years.
"India attaches the highest importance to its relations with Myanmar, which is a close friend and neighbour," said the PM in a pre-departure statement.
"In Yangon, I will have an opportunity to meet Daw Aung San Suu Kyi. I also look forward to addressing a cross-section of Myanmar society and interact with the Indian and Indian-origin community," he said.
The PM is accompanied by his wife Gursharan Kaur in the visit besides External Affairs Minister S.M. Krishna and senior officials. A delegation of Indian business leaders is also visiting same time.