MANU/APDR/0010/2000
Department / Board
: RBI-Exchange Control Department
Circular No : AP(DIR Series)Circular No 17
Date
: 16.10.2000
All Authorised Dealers in Foreign Exchange
Barter Trade with Myanmar under the Indo-Myanmar Border Trade Agreement
Please refer to A.D.(G.P. Series) Circular No.8 dated 17th May 1997 on
guidelines for the border trade between Myanmar and India, under the Border
Trade agreement dated 21st January 1994 signed between the Government of Myanmar
and the Government of India.
It has been decided in consultation with the Government of India that under
the border trade arrangement between the two countries, imports from Myanmar
into India should precede exports from India to Myanmar. Accordingly, the
revised guidelines for the border trade are as follows:-
i) The barter trade shall be restricted to land route as per the Border Trade
Agreement between the two countries. Such barter trade transactions shall take
place only by way of head load or non-motorised transport system.
ii) Imports from Myanmar to India shall precede export from India to Myanmar.
iii) The border trade will be restricted to items agreed to as per the Border
Trade Agreement between India and Myanmar as listed in Annexure I.
iv) There will be no monetary transaction under the barter trade arrangement.
v) The consignments of imports and exports should be invoiced in U.S.
dollars.
vi) The value of goods exported under barter trade should not exceed U.S.$
20,000 per transaction.
vii) Exports from India to Myanmar under barter trade of the value not
exceeding U.S.$ 1,000 per transaction are exempt from declaration on the
prescribed form viz. GR form, in terms of Reserve Bank Notification
No.FEMA.23/2000-RB dated 3rd May 2000. However, such transactions should be
completed in one or two days. Customs authorities at the Indo-Myanmar border
will report import/export transactons of the value not exceeding U.S.$ 1,000 to
the Exchange Control Department, Reserve Bank of India, Guwahati, on monthly
basis.