Indian, Saudi Foreign Ministers hold talks

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New Delhi, Feb 28 (UNI) India and Saudi Arabia today decided to set up a facility to promote mutual investments, including in the field of energy, and reiterated the need for quicker implementation of the Delhi Declaration.

External Affairs Minister Pranab Mukherjee held talks with visiting Saudi Arabian Foreign Minister Prince Saud Al-Faisal here today on a wide range of bilateral, regional and international issues, including the West Asia situation.

''The two sides examined ways and means to further strengthen India and Saudi Arabia cooperation in several areas. They reiterated the need to have a faster implementation of the Delhi Declaration,'' an External Affairs Ministry spokesman said.

In particular, they felt that consultations between the two Foreign Offices should be conducted on a regular basis.

They also reiterated the need to further invigorate trade and investment relations.

The discussions focused on the need to increase mutual investment and it was felt that a facility to promote such investments should be set up.

They also discussed possibilities of increased investment by Saudi Arabia in India in the fields of infrastructure, chemicals, petro-chemicals and energy.

The Saudi Foreign Minister and the External Affairs Minister exchanged dialogue on the recent developments in West Asia and in India's neighbourhood.

UNI RB MS BST1926

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