YANGON (Xinhua): Myanmar, India have agreed to maintain regular trade deal on beans and pulses with the Indian side proposing to purchase Myanmar quality beans and pulses at international current prices on a monthly basis, the official newspaper New Light of Myanmar reported on Thursday.

The deal on the move was reached recently between the Union of Myanmar Federation of Chambers of Commerce and Industry and the State Trading Corporation of India during a visit to Nay Pyi Taw by Indian Deputy Minister of Customer Affairs, Foods and Public Distribution NK Raghupathy, the report said.

According to Myanmar official statistics, Myanmar-India bilateral trade reached 995 million U.S. dollars in the fiscal year 2007-08 with Myanmar's exports to India accounting for 810 million U.S. dollars and its imports from India 185 million dollars.

India stands as Myanmar's 4th largest trading partner after Thailand, China and Singapore and also Myanmar's second largest export market after Thailand, absorbing 25 percent of its total exports.

Meanwhile, Myanmar and India are deliberating to upgrade its border trade carried out at Reedkhoda (India) and Tamu-Moye ( Myanmar) to normal trade.

It was touched upon at the 3rd meeting of Myanmar-India Joint Trade Committee held in Myanmar's second largest city of Mandalay during Indian Minister of State for Commerce and Power Jairam Ramesh's second visit to Myanmar in October this year.

The meeting also covered bilateral cooperation in banking services, extension of export items and promotion of trade between the two countries and bilateral cooperation in electric and energy sectors.

In the latest development, Myanmar and India held its 9th round of consultations between foreign offices of the two countries in Yangon last weekend, agreeing to cooperate in a wide range of areas of mutual interest and promptly implement the bilateral agreements inked previously.

The Myanmar-India foreign office consultations took place between delegations respectively represented by deputy minister or foreign secretary of the two countries U Kyaw Thu and Shivshankar Menon.