India, Saudi Arabia discuss ways to increase investments

India, Saudi Arabia discuss ways to increase investments

Thursday, 28 February 2008, 08:00 Hrs
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New Delhi: India and Saudi Arabia Thursday held talks on strengthening bilateral ties, including ways to increase Saudi investments in Indian infrastructure, petrochemicals and energy.

Saudi Foreign Minister Saud Al-Faisal, on a two-day visit to India, met Prime Minister Manmohan Singh Thursday evening and held talks with his Indian counterpart Pranab Mukherjee.

External affairs ministry spokesperson Navtej Sarna said the talks between the two foreign ministers 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. In particular, they felt that consultations between the two Foreign Offices should be conducted on a regular basis," he said.

A major area of focus was invigoration of trade and investment relations, and Sarna said there were talks on how to increase mutual investment and set up a facility that promotes such investments.

"They also discussed possibilities of increased investment by Saudi Arabia in India in the fields of infrastructure, chemicals, petrochemicals and energy," he said.

Besides discussing regional and international issues, the Saudi foreign minister highlighted recent developments in West Asia and India briefed him about events in the subcontinent.

The Saudi foreign minister invited Mukherjee to Saudi Arabia and the invitation was accepted.
Source: IANS
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