India and Myanmar today signed 12 agreements and Memorandums of Understanding on wide range of areas including connectivity, development cooperation, trade & investment, power and energy, culture and people to people contact.

After the restricted meeting between Prime Minister Dr Manmohan Singh and President of Myanmar U Thein Sein and delegation level talks on bilateral, regional and international issues of mutual interest, a joint statement was released by the Ministry of External Affairs.

The statement says the two leaders comprehensively reviewed the multifaceted bilateral relationship and took stock of developments since the very successful State visit of President U Thein Sein to India in October 2011.

The statement said they expressed satisfaction at the ongoing official exchanges and the growing economic, trade and cultural ties and they agreed to cooperate in the areas such as border area development, transportation, connectivity, agriculture, trade and investment, promotion of friendly exchanges and human resource development.

It further said that the two leaders recognized that peace and stability in the region is necessary for development and well-being of the people of their respective countries.

The Prime Minister of India congratulated the President of Myanmar on the path breaking reform measures taken by the Government of Myanmar towards greater democratisation and national reconciliation. He commended the on-going efforts at political, economic and social reform, which included negotiation of preliminary peace agreements with several ethnic groups as well as dialogue with various democratic political parties including the National League for Democracy led by Daw Aung San Suu Kyi.

The Prime Minister reiterated India's readiness to extend all necessary assistance in accelerating the country's democratic transition and developing the capacity of democratic institutions such as the Parliament, National Human Rights Commission and the Media.

Both leaders reaffirmed their shared commitment to fight the scourge of terrorism and insurgent activity in all its forms and manifestations.The two leaders also emphasized the need for enhanced cooperation between security forces and border guarding agencies for securing peace, security and stability in the border areas, which was crucial for overall development.