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India’s initiative of Sittwe port raised Myanmar’s hope

India's initiative of Sittwe port raised Myanmar's hope

Myanmar is excited about the new Sittwe Port built by India, as it is expected to greatly improve regional connectivity and boost trade between the two countries. The port is a crucial part of the Kaladan multi-modal transit transport project, which aims to create an alternative route connecting India’s eastern coast with the north-eastern states through Myanmar.

The port is linked to Paletwa in Myanmar through an inland waterway, and from there, a road connects to Zorinpui in Mizoram, India. This new trade route is seen as a significant opportunity for local communities in the Arakan state to prosper economically by engaging in direct trade with India.

Myanmar and India are currently finalizing agreements to start direct trade between the two ports. However, the official launch is pending the signing of a coastal shipping pact, which will determine the frequency of cargo shipments between Sittwe and Kolkata. Initially, shipping lines may not see substantial profits during the early stages of operation.

While the port is now open, its full potential will be realized once a regular shipping line between Kolkata and Sittwe is established. People in the Arakan state are hopeful that this port will bring economic benefits and improve the region’s overall economic landscape.

Currently, the Arakan state primarily trades with Bangladesh, but with the Sittwe Port, they will have more opportunities for direct trade with India’s Kolkata Port. This increased trade is expected to create more choices for traders and generate additional job opportunities, further improving the economic conditions in the region.

Negotiations are ongoing to allow the use of coastal ships owned by Myanmar business owners for this trade. As long as products from the Arakan state are permitted to be traded through the port, the Chairman of the Arakan National Party believes that the Sittwe Port will bring significant benefits to the people of Arakan.

In summary, the Sittwe Port is a promising development that has the potential to transform regional connectivity and foster economic growth in Myanmar’s Arakan state through increased trade opportunities with India. It plays a vital role in promoting trade and connectivity between the two countries and is expected to have a positive impact on the local economy in Myanmar’s Rakhine State.

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