India, Saudi Arabia discuss partnership in energy

New Delhi, Jan 19 (UNI) India and Saudi Arabia concluded their two-day discussions here today for building a strategic partnership in the field of energy, strengthening bilateral relations and enhancing economic, investment and commercial relations.

At the 7th Session of the India-Saudi Arabia Joint Commission held here yesterday and today, the discussions also focussed on engendering cooperation in science and technology, education, health and promoting the welfare of the Indian community in Saudi Arabia.

The Indian side at the JCM was led by Finance Minister P Chidambaram while Dr. Hashim Abdullah Al-Yamani, Minister of Commerce and Industry of Saudi Arabia, co-chaired the meeting.

Dr Al-Yamani was accompanied on the visit by Mr Abdullah A. Al Hamoudi, Vice Minister for Foreign Trade, and a 32-member Official Delegation, a 36-member Business Delegation and an 18-member ICT Delegation.

The 7th Session of the JCM was a follow up to the landmark visit of the Custodian of the Two Holy Mosques, King Abdullah bin Abdul Aziz, to India in January 2006.

''The proceedings of the JCM underlined the determination of both sides to work together to realize and achieve the goals set out in the Delhi Declaration issued during the visit covering the wide spectrum of bilateral cooperation,'' a spokesman of the External Affairs Ministry said.

Discussions were held to implement the provisions of the Delhi Declaration towards strengthening bilateral relations, the spokesman added.

Both sides made presentations on their respective economies and prospects and possibilities for investment and reiterated their commitment to follow up on various decisions taken during the JCM.

Bilateral trade and investments have been growing satisfactorily in recent times and considerable possibilities exist for further growth. India is the fourth largest trading partner of Saudi Arabia.

The Saudi Business and ICT delegations interacted with their Indian counterparts at the Joint Business Council meetings at FICCI, and at CII and ASSOCHAM. The ICT Delegation is also scheduled to visit Bangalore and Hyderabad for further interaction with various Indian companies and representatives in the ICT field.

UNI