JEDDAH: GCC-India trade will get a big boost when trade ministers from the seven countries meet in Jeddah in June. Two-way trade between Saudi Arabia and India alone amounted to SR80 billion last year, said Mustafa Sabri, secretary-general of Jeddah Chamber of Commerce and Industry (JCCI).
He said the JCCI would host the GCC-India Forum on June 14-16, bringing together more than 3,000 top officials, economists and businessmen from the seven countries in order to discuss prospects of establishing more joint ventures and small and medium enterprises (SMEs).
Sabri highlighted the importance of India being a fast-developing country in Asia, with long-standing political, economic and cultural ties with Gulf Cooperation Council and being the largest supplier of qualified manpower.
He said GCC Secretary-General Abdul Rahman Al-Attiyah and chairmen and top officials of Saudi chambers would attend the forum. “The main objective of the forum is to explore investment opportunities in both sides and support small-scale projects and technological programs.”
He underscored India’s remarkable development in the area of information technology and its distinguished role in supporting SMEs. He noted the growing relations between India and the GCC, which groups Saudi Arabia, Qatar, Bahrain, Oman, Kuwait and the United Arab Emirates.
“India is considered among the largest trading partners of GCC countries,” he said.
