NEW DELHI, 20 January 2006 — Ahead of Custodian of the Two Holy Mosques King Abdullah’s visit to India, the government yesterday gave its nod to the signing of agreements with the Kingdom on jointly combating terrorism and avoidance of double taxation and prevention of tax evasion.
The approval was given at a Cabinet meeting chaired by Prime Minister Manmohan Singh, Information and Broadcasting Minister Priyranjan Dasmunshi told reporters.
Giving details of the memorandums of understanding to be signed, Dasmunshi said they were aimed at the two countries cooperating in combating terrorism, crimes by organized crime gangs, drugs trafficking and traffic in historical artifacts.
Once in force, the convention on avoidance of double taxation would stimulate the flow of investment, technology and services from India to Saudi Arabia and vice versa, he said. It would also provide tax stability to the residents of India and Saudi Arabia, while facilitating mutual economic cooperation, the minister added.
King Abdullah will arrive here on Jan. 24 on a three-day visit and will be the chief guest at the country’s Republic Day celebrations on Jan. 26. This is the first visit by a Saudi king to India in half a century.
Observing that India and Saudi Arabia have “deep-rooted and multi-faceted ties,” the Indian Foreign Ministry said in a statement that the king’s visit would “substantially strengthen bilateral ties and raise them to a new height.”
