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Annual Report 2011-12
:: PRESS RELEASES
Exim Bank of India signs Cooperation Agreement with Korea Trade-Investment Promotion Agency
Mr. T.C.A. Ranganathan, Chairman and Managing Director, Exim Bank of India, signing Memorandum of Cooperation with Dr. Hwan-Eik Cho, President and CEO, KOTRA, in Seoul on October 1, 2010
Exim Bank of India and Korea Trade-Investment Promotion Agency (KOTRA) has signed a Memorandum of Cooperation (MOC) for enhancing India-Korea trade and investment relations. The MOC was signed in Seoul, on October 1, 2010, by Mr. T.C.A. Ranganathan, Chairman and Managing Director, on behalf of Exim Bank of India, and Dr. Hwan-Eik Cho, President and CEO, on behalf of KOTRA.
The objectives of the MOC are to (i) support cross-border transactions and projects of common interest, (2) facilitate joint ventures in both countries, and also in third countries, (3) support the activities of each other to promote the realization of business opportunities and facilitating trade and investment between the two countries.
Indo-Korean trade has witnessed significant growth in recent years, with total bilateral trade amounting to US$ 12 billion in 2009-10. To further enhance bilateral trade and investment cooperation, the Governments of India and the Republic of Korea have signed a Comprehensive Economic Partnership Agreement (CEPA) in August 2009. Exim Bank of India and KOTRA, in this regard, would endeavour to act as catalyst and facilitate enhanced trade and investment relations between India and South Korea.
For further information, please contact
Mr. S Srinivas,
Export-Import Bank of India,
Centre One Building, Floor 21,
World Trade Centre Complex, Cuffe Parade,
Mumbai 400 005.
Telephone: (022) 22172829,