JEDDAH, 30 May 2006 — Relations between Saudi Arabia and India have been expanding, especially after the visit of Custodian of the Two Holy Mosques King Abdullah to New Delhi in January. The interaction between businessmen from both countries is now much closer than before and they have been seriously negotiating the establishment of joint ventures or partnerships, according to the leader of a seven-member delegation of Indo-Arab Chamber of Commerce & Industries.
“In fact, we see a new thrust in our bilateral relations. While Saudis have evinced interest in investing in or trading with India, we in India are on the threshold of a major export boom,” Sunanda Rajendran, executive director of the chamber told a reception hosted by the Consulate General of India yesterday.
“A few of our 1,800 multinationals have already established their base in this part of the world,” Rajendran said.
The delegation has put up a national pavilion at the 11th international “Food, Hotel and Propac Arabia” exhibition that opened at the Jeddah International Exhibition and Convention Center on Sunday.
“Our representatives this time are focusing on 100 percent cholesterol-free food and food products, wheat flour that can last for a year and instant food items,” she said. “Our pavilion at the show could bag the highest export orders for Alphonso mango pulp.”
The Bombay-based chamber, which has 3,000 members from all over India, became part of the Federation of Union of Arab Chambers in February.
“We’re planning to stage a solo trade exhibition in Jeddah and also the visit of a delegation of businesswomen representing all parts of India,” Rajendran said, adding that the chamber alone has been getting requests from 300 businessmen every month for visiting the Kingdom and other parts of the Gulf.
She identified 17 projects worth $1.19 billion in Gujarat and the Biotech Park in Hyderabad as among many areas that Saudi businessmen could consider for investment.
