Saudi-India ties enter new era
RIYADH: Both Saudi and Indian businessmen will now get long-term multiple entry visas to visit each others country this was one of the major decisions taken at the 8th meeting of the Indo-Saudi Joint Commission which concluded at the Royal Conference Palace here on Saturday.
Commerce and Industry Minister Abdullah Zainal Alireza and Indian Finance Minister Pranab Mukherjee led the discussions on behalf of the Saudi and Indian teams respectively. Others who attended the meeting were M.O.H. Farook, Indian ambassador, Rajeev Shahare, deputy chief of the mission, and Faisal Al-Trad, Saudi ambassador in New Delhi.
The new scheme would facilitate frequent business visits from both sides and enhance bilateral economic and commercial exchanges, a spokesman from the Indian team said.
Other developments included an understanding for cooperation between the two countries in customs, oil, gas, minerals, science and technology. New areas of cooperation were also introduced for the first time in engineering, agriculture and higher education.
Both sides also decided to set up a monitoring-review mechanism on the progress of the implementation of the agreed recommendations. The commission also addressed the concerns of both sides regarding labor issues and community-welfare matters.
Delivering his opening remarks at the meeting, Alireza said bilateral relations between the Kingdom and India would reach new heights in economy and trade.
The two countries share common goals toward the development of economy and trade, as a result we could see remarkable developments in bilateral relations in the relevant sectors, he said. He also recalled that the visit of Custodian of the Two Holy Mosques King Abdullah, the subsequent Delhi Declaration and the proposed visit of Indian Premier Manmohan Singh would enhance existing cooperation.
He said the volume of two-way trade stood at $103 billion. Replying to the Saudi minister, Mukherjee praised the endeavors of the Saudi government in supporting India at all international forums including the G20.
We share identical views on the themes of the G20, including the ongoing deliberations on climate change, and look forward to continued cooperation from Saudi Arabia, he added. The Indian minister noted that India is currently the Kingdoms fifth largest trading partner.
During the day, Mukherjee also met Custodian of the Two Holy Mosques King Abdullah and discussed important bilateral, regional and international issues. He also held separate discussions with his counterpart Dr. Ibrahim Al-Assaf and Foreign Minister Prince Saud Al-Faisal on matters of mutual interest. In a separate event, Mukherjee inaugurated the India Textiles Buyers and Sellers Meet with Alireza at the Riyadh Palace Hotel. The show, which was attended by more than 20 Indian companies, was organized by the Synthetic Rayon and Textile Export Promotion Council (SRTEPC).
Describing the meeting of the Indo-Saudi Joint Commission as successful, Mukherjee, said that the two parties had a wide range of discussions starting from the hydrocarbon sector to new areas in science, technology and information technology.