India today signed a memorandum of Understanding, MoU, for a credit line of 500 Million US dollars to Myanmar. The MoU was signed between the export-import bank of India and Myanmar Foreign Trade Bank.

All India Radio correspondent covering Prime Minister’s visit reports that a total of twelve agreements and Memorandum of Understanding have been signed on Monday with Myanmar on wide range of areas in the presence of Prime Minister Dr Manmohan Singh and President of Mnamar U Thien Sein.

A total of nine MOUs have been inked by both the countries in several areas including border area development, setting up Myanmar Institute of Information Technology and establishment of Advance centre for Agricultural research and Education at Yezin Agriculture University.

MoUs have also been signed for establishment of a rice bio park at the Model integrated farm at country’s new capital and for establishing of border haats across the border between India and Myanmar.

Memorandum of Understanding on setting up of a Trade and Investment forum has also been signed and Cooperation between Indian council of world affairs and Myanmar institute of strategic and international Studies. Kolkata University and Dagon University Yangon have also signed an MoU for cooperation in higher studies and research.

Three agreements have been inked by both the neighboring countries. These include air services agreement, culture exchange programme 2012-2015 and for cooperation between Institute of Defence Studies and Analysis, New Delhi and Myanmar Institute of Strategic and International Studies.

Agreements were signed by foreign Minister S M Krishna and Foreign Secretary Ranjan Mathai from Indian Side while Myanmar was represented by its Minister of Transport, Dy Minister of Culture and Dy. Foreign Minister.

Earlier the Prime Minister, Dr. Manmohan Singh was given a warm ceremonial reception at the sprawling Presidential Palace at Nay Pyi Taw new capital of Myanmar Monday morning by the President of Myanmar U Thien Sein.