India, Myanmar sign 3 MoUs for cooperation in insurance, power and banking

New Delhi: India and Myanmar on Wednesday signed three MoUs for cooperation in insurance, power and banking sectors as part of efforts to improve ties between the two countries.

The MoUs were signed in the presence of Prime Minister Narendra Modi and visiting Myanmar State Counsellor Aung San Suu Kyi after the delegation-level talks.

External Affairs Ministry spokesperson Vikas Swarup tweeted "#IndiaMyanmar: Partners in Progress - The two leaders witness the exchange of agreements in sectors of power, banking and insurance."

The Agreement/ Memorandum of Understanding to be entered between India and Myanmar are as follows:

a) MoU between Financial Regulatory Department of Myanmar and Insurance Institute of India for designing an academic and professional building programme for insurance industry of Myanmar.

b) MoU on Cooperation in the field of Power Sector.

c) MoU on Banking Supervision between RBI and Central Bank of Myanmar.