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Rupee-kyat trade arrangement may give India an edge in textile trade

The minister from Myanmar hopes that the trade volume between the two countries will double once the arrangement is worked out, as Myanmar has been hit by US sanctions and is unable to earn sufficient foreign exchange to import goods from its trade partners. 

The country has already arranged trade in Yuan-Kyat with China. Importers have been instructed to pay solely in yuan if they are importing goods from China. Myanmar&#**;s goal is to conserve US dollars and lessen its reliance on the global currency. For the same purpose, it is working towards initiating trade with India in rupees.