Rangoon, 27 May 1970 The Government of the Republic of India and the Government of the Union of Burma,
BEING desirous of expanding economic and trade relations between the two countries,
HAVE agreed as follows :
Article I
The two Governments will develop and strengthen in every possible way trade relations between the two countries on the basis of the
principle of equality of rights and mutual benefits. Each Government will study the proposals which the other Government may submit
for consideration and abide by such decisions as may be agreed upon by the two Governments for the purpose of achieving closer economic
relations.
Article 2
Each Government will permit the exportation of its exportable commodities to the other and facilitate the importation of exportable
commodities of the other and where export or imp-ort licensing is involved will facilitate the issue of export and import licences
in conformity with its existing laws, rules and administrative practices.
Article 3
Subject to their rights and obligations under the GATT and UNCTAD, the two Governments agree to accord most favoured nation treatment
to their mutual trade.
Article 4
Each Government will grant merchant vessels of the other country while entering, putting off and lying at its ports the most-favoured-nation
treatment accorded by their respective laws rules and regulations to the vessels under the flag of any third country.
Article 5
Payments for all commodities sold or purchased by the two countries shall be made in any convertible currency which is acceptable
to the two Governments. If necessary, banking arrangements between the two countries shall be made separately between the competent
banks of the two countries.
Article 6
Both Governments shall consult each other whenever necessary in order to recommend measures for expanding mutual trade or to overcome
difficulties that might arise in connection with the implementation of the provisions of this Agreement.
Article 7
This Agreement may be amended by exchange of letter between the two Governments.
Article 8
This Agreement shall come into force with effect from the date on which it is signed and shall remain in force upto the 31st December
1971. It shall be automatically extended for a period of one year at a time unless one of the contracting parties gives notice in
writing of its intention to terminate the Agreement three months in advance.
DONE in Rangoon on the 27th May 1970 in two original copies in the English language, both texts being equally authentic.
On behalf of the Government
On behalf of the Government
of the Republic of India
of the Union of Burma
Sd/-
Sd/-
S. VENKATESAN
COLONEL KYAW ZAW
Leader of the Indian Trade Delegation
Secretary to the Government
Joint Secretary
of the Union of Burma
Ministry of Foreign Trade
Ministry of Trade
Government of the
Republic of India
