6 new MOU’s signed on the occasion
Bengaluru 29 July 2016: The ‘Karnataka Region Economic Trade Organization’ was launched by the Former Cabinet Minister, Mr Mani Shankar Aiyar, Honorable Minister, U T Khader and Honourable Mayor of Bangalore, Mr Manjunath Reddy. KRETO also announced it is in consultative status with ECOSOC United Nations.
The event was held in the presence of Mr CM Ibrahim- Deputy Chairman, Planning Commission, Govt of Karnataka, Mr Krishnakumar, IAS, Chairman KRETO, Ms Shabeena Sultana, Vice Chairperson KRETO, Mr Asif Iqbal, Executive Director KRETO and delegates from various other international chambers of commerce and industry.
At the forum, the Chief Minister through a video message stressed on the importance of KRETO in creating a favourable business environment within Karnataka for local companies as well as for international companies interested in expanding here.
Adds Shabeena Sultana, Deputy Chairperson – KRETO, “While we are blessed with a bountiful state and a forward looking government, we are also living in the technology era, where the world around us is fast transforming. Look at countries like Singapore, Switzerland or UAE for that matter, which are in reality smaller in size than our state; but look at the progress that they have achieved despite their limitations. I believe KRETO will be the right fulcrum to help our entrepreneurs and businesses achieve their true potential.”
6 MOUs signed:
1. E-Tourist card - Between KRETO and ESTONIA- for Strategic support from Estonia.
2. Innovation Centre - Between AACC and KRETO - For an Innovation and display centre by AACC
3. Kannada films- Between Govt. of Bosnia and KRETO - For the Kannada film Panorama Festival
4. Sanya city- Between Govt., of Sanya City, China and KRETO by the Mayor of Bangalore
5. AKKA and KRETO – Between President of AKKA and KRETO - For Better coordination between state NRIs
6. NIFT and KRETO - For promoting Namma Khadi of NIFT in foreign countries.
E-Tourist Card
The E-Tourist card by KRETO is aimed at potential investors who visit the state as Tourists. Every potential investor visiting as a tourist will be exposed to quality offers that give them a taste of the local culture and tradition. This will enable them to also savor local cuisine with the help of well-informed recommendations, an opportunity to visit local homes and to stay in villages. This process promises to create employment opportunities for Tourism in the smaller cities and villages of Karnataka and also the opportunity for visitors to enjoy the local culture in turn. This card has been conceptualized and developed with strategic support from Estonia who have provided advisory support, since they already have their own E citizen card which is operational and hugely successful for the first time in the world.
The first copies of the E-Tourist card were handed over to the first five members who are potential investors in the state:
· Princess Fay Jahan Ara
· Mr Harm Jacobus Bos
· Mr Cullen Bordes
· Mr Oz Harpaz
· Mr Hendrikus Van Dord
KRETO Innovation Centre in UAE
This initiative is supported by the Asian Arab Chamber of Commerce, which has a network of office representations in 23 countries. The brand new Innovation Centre in UAE will be located on a 15000 square feet area. It has been designed to help midsized investors from Karnataka to have a permanent space to display their products and to also benefit from marketing support to attract investors from Europe and the Middle East. Mid-sized companies can hence enjoy a support system in the UAE at nominal costs along with a representation service which is free of charge.
Adds Princess Fay Jahan Ara, President, AACC "I want to provide the people of Karnataka a facility to showcase their services and products at a nominal cost, and to encourage the state with whom I have been personally doing business with for the last 6 years. With the Karnataka diaspora already present in the UAE, I see immense potential and opportunity for cross border transactions and growth. "
How it works - If a company wishes to have representation in the Middle East, then the KRETO Innovation Centre with support of the AACC will provide free service to represent the company along with a nominal space to display their products and brochures. The only cost will be towards a display area of 3X3 feet which will be given to the company at a nominal fee of US 1000 $ per month.
MOU with Sanya City
Sanya City in China has signed an MOU with the KRETO East Asia Trade Commissioner, Tribhuvan Darbari who has been instrumental in initiating a link between Karnataka State and the Chinese city. With this MOU there will be regular inflow of tourists from China says Mr. Darbari. He adds, "I started my symbolic relationship with Karnataka when I got the Chinese Ambassador Le Yucheng last year and opened the largest facility of HUAWEI in Bangalore, which is also their largest facility outside China. KRETO will therefore aim to give more thrust to this initiative of building up our relations more constructively".
Kannada Films to be screened in film festivals in Sarajevo, Amsterdam, Milan and Berlin festivals
An MOU has been signed by the Ministry of Foreign Affairs, Govt of Bosnia and Herzegovina to screen Kannada films in an exclusive Kannada panorama in the upcoming Sarajevo film festival. This is the 3rd largest film festival in Europe after the festivals in Cannes and Rome. This unique initiative will ensure that Kannada films get maximum thrust by being showcased in foreign countries.
Adds Shabeena Sultana, Deputy Chairperson, KRETO “We believe that Kannada films have a lot of untapped potential and this can only be leveraged through wider engagement opportunities. Through our various initiatives and with the help of our Global representatives, we hope to showcase the true creative potential of our filmmakers on a global platform.”
The Kannada Film Chamber of Commerce and the Chalanachitra Academy have been prompt in expressing their thanks to the KRETO team, who have initiated this concept to promote the culture and tourism potential of Karnataka beyond its borders. In line with this, KRETO also recently screened a Kannada film by Indian born Canadian Film Maker, Cudavalli Chandrashekar last week to an audience representing diplomatic missions from several countries including Canada, Britain, Germany, etc among others.
About KRETO?
The KARNATAKA REGION Economic and Trade Organisation (KRETO) in Bengaluru is a non-profit organization supported by the Karnataka Government in cooperation with various partners in different countries across the globe.
This is a key initiative for the Karnataka State along with its several individual districts to collaborate efficiently with different countries from around the world. It is a professional industry body backed by senior industry leaders drawn from various sectors of business and trade. The primary aim of the establishment is to offer Karnataka based companies’ easy access to businesses in foreign countries and vice versa.
The KRETO office will be a single window contact point that is formed as a dedicated point of establishment and is registered as a society under the Indian society’s act. This is an effort to forge a symbiotic relationship between the Govt. of Karnataka and various foreign representations and missions in the State. KRETO will provide a single interface on socio-economic activities of Karnataka State and its development and also coordinate investment in the state across potential sectors through various missions.
How KRETO can help you?
· Provide a repository of knowledge and information to members from Karnataka and abroad on issues related to trade and businesses
· Provide the necessary networks and affiliations towards ease of doing business within the Karnataka region and to aid companies from Karnataka to invest and operate in International markets accordingly
· Organise frequent events, seminars, delegation visits and industry forums to aid consistent engagement with business members from around the world
Caption: Photo caption: Former Union Minister Shri Manishankar Iyer with Office Bearers of KRETO, Mr Krishnakumar - Chairman KRETO, Mr Asif Iqbal - Executive Director KRETO and Ms Shabeena Sultana - Vice Chairperson KRETO and other Trade Commissioners
The ‘Karnataka Region Economic Trade Organization’ was launched by the Former Cabinet Minister, Mr Mani Shankar Aiyar, Honorable Minister, U T Khader and Honourable Mayor of Bangalore, Mr Manjunath Reddy. KRETO also announced it is in consultative status with ECOSOC United Nations.
The event was held in the presence of Mr CM Ibrahim- Deputy Chairman, Planning Commission, Govt of Karnataka, Mr Krishnakumar, IAS, Chairman KRETO, Ms Shabeena Sultana, Vice Chairperson KRETO, Mr Asif Iqbal, Executive Director KRETO and delegates from various other international chambers of commerce and industry.