India and Myanmar have agreed to enhance bilateral trade and adopt the rupee-byan currency settlement mechanism

On Monday, India and Myanmar issued a joint statement, announcing that the two countries have agreed to enhance bilateral trade, including the adoption of a rupee-myanian settlement mechanism.

Indian Foreign Ministry Secretary Vikram Misri said earlier on Monday (June 1st) that the bilateral trade volume between India and Myanmar was slightly above 2 billion US dollars.

Myanmar President Min Aung Hlaing arrived in neighboring India on May 30th for a five-day visit. This is his first overseas trip since becoming the civilian leader. The talks focused on security and trade issues.

Min Aung Hlaing met with Indian Prime Minister Modi on Monday. Indian Foreign Ministry spokesperson Jaswal said that Modi told Min Aung Hlaing, "India remains a trustworthy neighbor, a reliable partner, and a steadfast first responder in times of crisis for Myanmar."

Modi also "reiterated India's willingness to support peace and dialogue in Myanmar."

Mishri told reporters after the meeting between the two leaders that the two sides discussed border security and the impact of the civil war in Myanmar's northeastern states that border Myanmar. "The stability and peace of Myanmar is clearly a major interest of India."

But he also emphasized that any solution to the conflict in Myanmar must come from the people of Myanmar themselves.

Misli also said that the leaders of the two countries agreed to accelerate the construction of the India-Myanmar-Thailand trilateral highway, but he did not provide a specific completion timeline.