The Indian Economic Trade Organization (IETO), represented by Trade Commissioner Mr. Rakesh Rajagopal, has signed a landmark Memorandum of Understanding (MoU) with the Global Lobby and Trade Association (GLATA), represented by Mr. Benny Pang. This significant agreement establishes a collaborative framework to boost trade and economic exchanges between the two organisations.
Under the MoU, IETO and GLATA will work together on various initiatives, including the exchange of business trade delegations, experts, and economic missions. The partnership aims to provide mutual exposure to business opportunities and facilitate the sharing of vital economic, market, business, and investment data. Additionally, both parties will exchange technical expertise, know-how, and training to further strengthen their cooperation.
At the signing ceremony, Mr. Benny Pang said: “We are thrilled to partner with IETO. This strategic alliance is set to redefine the landscape of international trade and open new avenues for economic engagement that are mutually beneficial and aligned with global trade objectives.”
Attending the ceremony remotely from Sweden, Mr. Martin Andersson, Director of GLATA, said: “This partnership with IETO marks a significant milestone in our ongoing efforts to bridge economic and trade relations globally. By combining our expertise and resources, we are setting a new standard for international trade collaborations that are innovative and beneficial for all stakeholders involved.”
Dr. Asif Iqbal, President of IETO, commented: “Our collaboration with GLATA is a testament to our dedicated efforts in promoting sustainable and equitable global trade practices. This MoU paves the way for innovative and impactful economic partnerships that will significantly benefit Indian enterprises on the international stage.”
Mr. Rakesh Rajagopal, Trade Commissioner at IETO and Co-founder of Ratchet Capital, added: “The synergy between IETO and GLATA under this new agreement will enhance our collective ability to foster significant trade opportunities. We are particularly excited about the forthcoming $7 billion USD energy infrastructure project with a government in the GCC, which promises to position Indian manufacturing at the forefront of the energy transition.”
Also in attendance were representatives of GlobalFund Trading Xchange, supporting the integrative approach of IETO with ASEAN, promoting energy resilience and sustainability across the region.
