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News & Features Anand Mahindra appointed as Honorary Ambassador of Foreign Investment for Korea
Anand Mahindra appointed as Honorary Ambassador of Foreign Investment for Korea
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Anand Mahindra, Vice Chairman and Managing Director, Mahindra Group has been appointed as the Honorary Ambassador of Foreign Investment Promotion for Korea to promote closer economic ties between both nations
On 1st January 2010 India and South Korea signed the Comprehensive Economic Partnership Agreement (CEPA) as a free trade pact between the two countries. As a result of that bilateral trade between the two countries grew by 45% between January and November of 2010 to $15.6 billion. Both countries are now aiming squarely for the $30 billion figure by 2014 with increased trade and commerce between the two nations.
To provide able leadership to the ambitious target Mr. Byeong-Cheol Lee, Director General for Cross-border Investment, Ministry of Knowledge Economy has appointed Mr. Anand Mahindra, Vice Chairman and Managing Director of the Mahindra Group as the Honorary Ambassador of Foreign Investment Promotion for Korea at the Korea Investment Road Show, 2011. As the honorary Ambassador, Mr Anand Mahindra will advice corporate India on potential investment opportunities in South Korea and promote economic ties between India and Korea.
Mr. Mahindra in his speech reflected on the relationship between the two countries and expressed his desire to forge closer ties with Korea by saying, “I have actually seen first hand the vibrancy of South Korean industry, particularly through our Group’s association with SsangYong Motors and frankly it’s going to be a very, very great pleasure for me to play whatever role I can, however small, in fostering closer economic ties between our two countries…I do hope to build a bridge between the business community of Korea and the business community here in India…we are two countries with similar stories, we are two countries with similar values. Perhaps, we can become two countries with a common business destiny. I would like to use this ambassadorship to make that effort.”
“With his sound knowledge of the global economy and as one of corporate India’s most prominent voices, Mr. Mahindra is the ideal choice for this role. Despite the increasing trade volume between Korea and India, the mutual investment activities are hardly sufficient enough. As Korea-India cooperation has evolved into a robust and strategic partnership, we need to create a platform for expansion of more investments in order to further strengthen such ties,” said Mr. Byeong-Cheol Lee, Director General for Cross-border Investment, Ministry of Knowledge Economy.
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