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of <h1>India Extends $15M Credit Line to Myanmar for Indian Goods and Services; Transactions Due by November 30, 2002.</h1> The Government of India extended a US$ 15 million line of credit to the Government of Myanmar under a 2000 agreement to facilitate imports of Indian-manufactured capital goods, consultancy services, and consumer durables. The credit covers 100% of the f.o.b. value, with contracts requiring approval from both governments. The State Bank of India will manage disbursements, and all transactions must be completed by November 30, 2002. Export shipments should be declared on GR/SDF Forms. Generally, no agency commission is allowed, but exceptions up to 5% may be considered. Compliance with the Foreign Exchange Management Act is mandatory.
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