Trade, economy, defence, and cultural cooperation were the main topics of discussion between Prime Minister Narendra Modi and Saudi Arabia’s Crown Prince Mohammed bin Salman Al Saud during the latter’s State visit today.
During the high-profile meeting today at Delhi’s Hyderabad House, the two leaders co-chaired the first leaders’ meeting of the Strategic Partnership Council, a bilateral agreement between India and Saudi Arabia signed by the two nations in Riyadh in 2019.
“For India, Saudi Arabia counts as one of its closest and biggest strategic partners,” PM Modi said. “India-Saudi Arabia partnership crucial for stability, welfare of region and world.” India and Saudi Arabia have a long history of cordial and cooperative relations, with extensive people-to-people ties. According to government data, bilateral trade between the two countries reached an all-time high of USD 52.75 billion in fiscal year 2022-23.
PM Modi during his 2019 visit to Riyadh had said that India and Saudi Arabia have a Joint Committee on Defence Cooperation (JCDC) that meets regularly and that the two countries have identified a number of areas of mutual interest and cooperation in the field of defence and security.
Post a commentThe two economic powerhouses are also major trading partners. India is Saudi Arabia’s second-largest trading partner, while Saudi Arabia is India’s fourth-largest. The two countries have a strong partnership in the energy sector, with India importing a significant amount of oil from Saudi Arabia.