India, Saudi Arabia to hold talks on regional and global issues

Posted on:09 Mar 2016 10:42:11
India, Saudi Arabia to hold talks on regional and global issues
09 March 2016 Current Affairs: India and Saudi Arabia have expressed keenness to elevate ties between the two countries to strategic level by boosting cooperation in key areas of trade, security and counter terrorism. It was decided after Union External Affairs Minister Sushma Swaraj held extensive talks with her Saudi Arabian counterpart Adel bin Ahmed Al-Jubeir in New Delhi who was on a two day-official visit to India. Both countries discussed entire gamut of bilateral ties besides regional and global issues of mutual interests. Both sides also discussed ways to ramp up trade ties, besides exploring new areas of cooperation including investment, energy and security cooperation. They also discussed the regional situation and the threat from ISIS. India is also seeking Saudi Arabia’s support for its draft Comprehensive Convention on International Terrorism (CCIT). India-Saudi Relations Saudi Arabia is India’s largest crude oil supplier accounting for about one-fifth of the country’s total imports. Thus it is key player in the India’s energy security. The Gulf nation is also India’s fourth largest trading partner with bilateral trade of 40 billion US dollars in 2014-15. In Saudi Arabia, Indians are the largest expatriate community whose contribution in the progress and development of the country is well recognized. There are over 2.96 million Indians currently working in Saudi Arabia indicating strong presence of Indian diaspora.

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