Mumbai: India and Myanmar have signed four economic cooperation agreements, including a bilateral investment promotion agreement (BIPA) to facilitate greater bilateral investment.

The investment protection agreement provides a framework for resolution of disputes, promotion and protection of investment, extending national treatment and most-favoured-nation treatment, for repatriation of investment and returns and for entry of technical and managerial personnel.

Under the second agreement, India will extend a line of credit from the Exim Bank of India to the Myanmar Foreign Trade Bank for Rs256 crore to finance three 230 kV transmission lines in Myanmar to be executed by the Power Grid Corporation of India (PGCIL).

The third agreement is signed by the Exim Bank of India and the Myanmar Trade Bank will provide $20 million finance for an aluminium conductor steel reinforced (ACSR) wire manufacturing facility in Myanmar.

The fourth agreement between the United Bank of India (UBI) and the Myanmar Economic Bank is for the banking arrangement for the implementation of the Moreh border trade agreement.
 
An agreement for the $130 million joint navigation project on the Kaladan river, starting in Sittwe, was signed by commerce minister Jairam Ramesh and Myanmar planning minister Soe Tha.

Myanmar and India agreed to the Kaladan project, meant to improve access to India's landlocked northeastern states via the Kaladan river, during a visit by junta number two Maung Aye to New Delhi in April.

India and China are competing for influence in Myanmar, which western powers say contribute in large part to the junta's ability to continue with its human rights violations.