Bengaluru, June 23 (IANS) Non-profit Karnataka Region Economic and Trade Organisation (KRETO) on Thursday announced its formation and opened memberships, aimed at facilitating trade and investment between the state and foreign countries and companies.
KRETO Deputy Chairperson Shabeena Sultana said KRETO would be formally launched on June 27 by Chief Minister Siddaramaiah.
Further talking on KRETO, Sultana said: “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.”
She believes KRETO will be the right fulcrum to help Karnataka entrepreneurs and businesses achieve their potential not just on the national stage but on the international stage as well.
KRETO was formally constituted on Wednesday in the presence of trade commissioners from Saudi Arabia, Turkey, East and South Africa Division, ASEAN Region, WANA Region, Western Europe Division and the Consuls of Djibouti and Estonia and others.
Some of the services which KRETO aims to offer include knowledge and information on business, networking and affiliation, enabling ease of doing business, aiding Karnataka companies foray into international markets, organising events, seminars, and visits among others.
However, the non-profit organisation said it will not conduct business transactions for members, operate offices and host individual members local and internationally.