JEDDAH, 23 March 2005 — The first executive council meeting of Saudi-Indian Business Network (SIBN) was held here last week to discuss various strategies and action plans to make India the investment destination for Saudi businessmen.
The new committee is headed by Abdul Khaliq Sayeed. Dr. Ausaf Sayeed, Indian consul general, stressed the importance of building bridges of business relationship between India and Saudi Arabia and explained various avenues available for Saudi businessmen, particularly in the field of infrastructure, hydrocarbons, pharmaceuticals, biotechnology and information technology.
The committee proposed setting up a permanent exhibition of Indian products and services in Saudi Arabia so that Saudi businessmen would come to appreciate the strength of Indian Industry and Technology. The meeting also decided to institute an annual award to honor Saudi businessmen who promote Indo-Saudi business relationship.