Saudi Arabia, India renew pledge to boost economic ties

King Salman received Indian Finance Minister Arun Jaitley at Al-Yamamah Palace in Riyadh on Sunday. (SPA)
Updated 18 February 2018
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Saudi Arabia, India renew pledge to boost economic ties

RIYADH: Saudi Arabia and India have renewed pledges to boost bilateral economic, investment and trade cooperation following talks between King Salman and Indian Finance Minister Arun Jaitley at Al-Yamamah Palace on Sunday.
“King Salman and the Indian minister discussed bilateral relations and ways of developing and enhancing them in various fields,” said an SPA report.
Jaitley also attended a meeting with a large number of top-notch Saudi businessmen at the Council of Saudi Chamber (CSC), where he was received by Ahmed Sulaiman Al-Rajhi, CSC chairman.
“The progressively growing cooperation between the Kingdom and India in the fields of trade and commerce; and how to strengthen trade ties; figured prominently in the meeting,” said a CSC statement. Saudi Arabia is India’s fourth-largest trading partner besides being a major energy supplier to India. The volume of two-way trade between the two countries exceeded $25 billion in 2016-17.
Dr. Saud M. Al-Sati, the Saudi ambassador to India, told Arab News: “The Saudi-India Joint Ministerial Commission’s (JMC) meeting will be held here on Monday.” The JMC, in which many top Saudi and Indian officials will participate, will chalk out a plan to cooperate with each other for economic development, he added. This 12th JMC will be co-chaired by Dr. Majed Al-Qasabi from the Saudi side and Jaitley for India.
The meeting will focus on enhancing bilateral cooperation, knowledge exchange and economic ties between the two countries.
Saudi Arabia and India enjoy cordial and friendly relations and have forged closer strategic ties. The visit of King Salman to India, as crown prince in 2014, further deepened the relations between the two countries. Moreover, the recent visit of Indian Prime Minister Narendra Modi in April 2016 is seen as a turning point in the growing engagement between the Kingdom and India.


Saudi defense partnerships signed at Paris Air Show

Updated 20 June 2019
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Saudi defense partnerships signed at Paris Air Show

PARIS: Saudi defense chiefs signed a number of strategic partnerships with major global companies while taking part in the prestigious Paris Air Show.
The pavilion of the Saudi Arabian Military Industries (SAMI) company received a succession of key aerospace-industry figures during the Kingdom’s first exhibition appearance at the world’s largest aviation event.
High-profile visitors welcomed by SAMI chief executive offer, Andreas Schwer, included chairman of the SAMI board of directors, Ahmad Al-Khatib, deputy chairman of the SAMI board of directors and chairman of the board of directors of the Local Content and Government Procurement Commission, Dr. Ghassan Al-Shibl, and president of the General Authority for Civil Aviation, Abdulhadi bin Ahmed Al-Mansouri.
The pavilion also received a senior delegation from the Saudi Presidency of State Security, along with the director general of Saudi Arabian Airlines, Saleh bin Nasser Al-Jasser.
During the second day of the air show, which runs until June 23 at Le Bourget airport in Paris, SAMI officials took part in meetings and signed strategic partnerships with global businesses involved in the four areas of the company’s work, namely air and ground systems, weapons, missiles and defense electronics.
At a signing ceremony in the SAMI pavilion, company chiefs also put pen to paper on a joint project agreement with US aerospace and defense company L3 Technologies for cooperation in the field of electro-optical and infra-red technology and special task systems inside Saudi Arabia. In February, the two sides signed a memorandum of understanding establishing the joint project.