Min Aung Hlaing visits India to discuss dysprosium and terbium
Myanmar's President Min Aung Hlaing is on an India trip, and the big topic is rare earth minerals.
Myanmar has valuable deposits of dysprosium and terbium, key ingredients for things like EV magnets, wind turbines, and defense technology.
Right now, China pretty much runs the show when it comes to mining these resources.
India Myanmar trade up 23%
India hopes to secure access to these minerals while China is currently extracting them.
President Hlaing and Prime Minister Modi are set to talk business, with Hlaing also addressing a New Delhi forum to boost economic ties.
Trade between the two countries is already up 23%. Myanmar's pulse exports account for a large share of its exports to India, and Indian-made medicines are widely used in Myanmar.
Plus, India's approved investment in Myanmar is about $782.8 million across 39 enterprises, showing just how important this partnership is becoming.