The Saudi-Indian joint committee held its 12th session in Riyadh under the chairmanship of His Excellency the Minister of Commerce and Investment, Dr. Majid bin Abdullah Al Qassabi, while the Indian side was headed by H.E. the Minister of Finance and Corporate Affairs, Aaron Gaitley, during the meeting a joint minutes was signed.
The two sides discussed the bilateral relations and cooperation between the two countries, especially in the economic, trade and investment fields. The two sides also discussed ways to enhance and boost joint cooperation in the field of energy, oil and financial cooperation.
The two sides agreed to exert more efforts to increase the volume of mutual investments at the two countries, especially in the priority sectors, also to raise the level of cooperation in the field of trade and investment between the business communities. They also stressed the need to strengthen cooperation among the private sectors through exchange of trade delegations visits and by defining the export and investment opportunities at both countries. The two sides also discussed the volume of trade exchange between the two countries and ways to promote and strengthen it. They agreed on the need to intensify joint efforts to increase the volume of trade exchange to meet the desire of the two countries by improving and boosting the level of intra-trade between them.
It is worth mentioning that the volume of trade exchange between the two countries in 2017 AD amounted to more than 85 billion riyals, where the Saudi exports to India represent about 67 billion riyals, while the Saudi imports from India represent more than 18 billion riyals.