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MoU signed to promote Saudi-Indian cooperation
Riyadh, 16th Apr 2001

   The Confederation of Indian Industry and the Council of Saudi Chambers of Commerce and Industry signed here yesterday a memorandum of understanding paving the way for multilateral cooperation in several fields, including IT, technical and higher education and business management.

The agreement was signed by Osama Kurdi, secretary general of the Council of Saudi Chambers of Commerce and Industry, and Dr. Jamshed J. Irani, head of a 15-member Indian delegation currently visiting the Kingdom.

Addressing a press conference here yesterday, Indian Ambassador Talmiz Ahmad said the delegation had invited Prince Abdullah ibn Faisal Al-Turki, governor of the General Investment Authority, and Kurdi to visit the cyber cities of Bangalore and Hyderabad as well as Bombay, India’s industrial capital.

He said the Saudi dignitaries had accepted the invitation, though no date had been set for the visit.

Ahmad said the MoU would help to raise the profile of Saudi-Indian trade exchange which stood at $3 billion last year. From traditional exports, both countries will diversify their cooperation in several fields.

He said the mission would lead to deeper interaction between the two countries, especially in IT, energy and construction projects relating to oil and gas. He said that at meetings with Saudi businessmen, the CII mission was invited to pay specific attention for investment in areas such as IT, mining, environment projects and tourism.

Ahmad also announced that Saudi Ambassador in New Delhi Abdulrahman N. Al-Ohali handed over to India’s Minister for External Affairs Jaswant Singh documents relating to two Arabian horses gifted by Crown Prince Abdullah, deputy premier and commander of the National Guard.

The two horses, Sameera and Hazaa, had arrived New Delhi on a special flight the previous evening. At the formal handing over ceremony, the Saudi ambassador also presented Jaswant Singh with a traditional saddle and a thobe, the Kingdom’s national dress.

Dr. Irani, who had led a CII delegation to the Kingdom in 1999, said he had noticed a surge in interest among the Saudi businessmen, who turned up in large numbers at the chamber meetings. He also visited the facilities of the Middle East Fiber Optics Cables Factory for exploring the possibility of cooperation in the field of telecommunications.

Source: Arab News©

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16 April 2001 07:25:39 PM

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