Bangladesh and Myanmar have agreed to raise the value of letters of credit (L/Cs) used in bilateral trades.

The agreement was made in the latest in a series of meetings between the two countries aimed at improving trade relations.

L/C agreement

At the latest meeting of the Myanmar Joint Trade Commission, it was agreed that the limit on each L/C would be increased from US$20,000 to US$50,000.

The agreement was made as delegations from each country discussed various problems related to import and export trade and banking arrangements between the two countries.

Other matters

Delegates are also discussing visa extensions for Bangladesh business people travelling to Myanmar to do business.

They are also discussing arrangements whereby farmers from Bangladesh would cultivate farmland in Myanmar.

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