S Arabia seeks India's coop in diversifying economy
Friday, 26 November 2010, 06:00 IST
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New Delhi: Describing Saudi Indian partnership as "strategic" and "solid", Commerce and Industry Minister of Saudi Arabia Abdullah A Z Alireza today sought India's collaboration for building a knowledge-based economy in his country. As the oil-rich country moves away from "being a gas station of the world" towards a "sophisticated laboratory of excellence, innovation and knowledge", Saudi Arabia is looking for enhanced partnership with India, he said at a Ficci function here. Referring to the "landmark" visit of King Abdullah to India in 2006 and a return visit of Prime Minister Manmohan Singh to Saudi Arabia recently, Alireza said that the Saudi- India strategic partnership "will overcome any challenge". Between 2000 and 2008, Saudi exports to India increased seven-fold, while imports from India increased six fold, he said. During 2009-10, the bilateral trade between the two countries stood at about $21 billion.
Source: PTI
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