India and Myanmar have signed a Memorandum of Understanding, MoU, for the creation of a Line of Credit of 60 million US Dollars. The MoU signing ceremony between the EXIM bank of India and the Myanmar Foreign Trade Bank was attended by a delegation from Myanmar comprising of the Ministers of Commerce, National Planning and Economic Development, and Science and Technology in New Delhi today. The delegation invited the Indian private sector to invest and participate in the process of national development of Myanmar. Lamenting a very modest level of bilateral trade, the delegation stressed the need to enhance the business and trade ties between the two countries.