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TS signs MoU with Ontario on economic cooperation


IT & Panchayat Raj Minister K.Tarakarama Rao has said the high potential of economic cooperation between the startup State of Telangana and State of Ontario will be a win-win situation for both.
The State Government of Telangana and the Province of Ontario signed an MoU (Memorandum of Understanding) on Thursday here to work together to advance mutually beneficial avenues of Economic Co-operation. The MoU was signed by Aravind Kumar, Secretary, Industries of Telangana and Helen Angus, Deputy Minister, Citizenship, Immigration and International Trade of Ontario.
Speaking on the occasion, KTR said Telangana State is a StartUp State and was striving to develop the State on all fronts. The new Industrial Policy launched by the State government last year to attract Industrial investments had paid good dividends in the last 18 months by attracting major IT MNCs like Google, Amazon, Uber to setup their Data Centers in Hyderabad. He also said there was a perfect possibility of great symbiotic association and mutual benefit to both States.
Speaking on the occasion, Ontario premier Mrs Kathleen Wynne said the MoU would create opportunities to work in the areas of IT, agriculture, Infrastructure with the State of Telangana to advance mutually beneficial avenues of Economic Co-operation.
The Salient Features of MoU are: Domestic Information Seminars or Webinars; To educate domestic companies on doing business and build awareness of opportunities in the partner market (i.e. Ontario or Telangana) and to assist companies in connecting with peers, who are experienced in doing business in the partner market.
Trade Missions are: Coordinating and leading trade missions to the partner market with a focus on priority sectors and to help companies gain access to the partner market. The parties will endeavour to provide in-market support to their respective trade mission delegates for the duration of travel abroad.
Minister for Industries Jupally Krishna Rao, Chief Secretary Dr Rajiv Sharma, High Commissioner Patel, Minister for Ontario Deepika Damerla, Secretary Industries Aravind Kumar, Secretary IT Jayesh Ranjan, TSIIC MD Venkata Narsimha Reddy, Dy. Secretary Protocol Arvinder Singh participated in the event. (NSS)

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