New Delhi, June 1 -- India and Myanmar on Monday agreed to facilitate and enhance bilateral trade through the Rupee-Kyat settlement mechanism and backed closer cooperation in agro-processing, petroleum, energy and mining.

According to a joint statement issued following Prime Minister Narendra Modi and Myanmar President U Min Aung Hlaing's high-level talks earlier today, "Both sides agreed to facilitate and enhance bilateral trade, including through the Rupee-Kyat settlement mechanism, and appreciated the steady growth in the volume of transactions recorded since its operationalisation in May 2024."

"Both sides also expressed support for closer trade and investment cooperation in the areas of mutual interest, such as agro-processing, pet...