Saudi Arabia& India ink 12 key deals including oil& civil aviation

Saudi Arabia on Tuesday, October 29, inaugurated a three-day high-profile financial summit, being attended by Prime Minister Narendra Modi wherein India and Saudi Arabia inked over a dozen agreements in several key sectors. The sectors included defence, civil aviation, oil and gas to boost the two countries ties. PM Modi held crucial talks with Saudi Arabia’s top leadership during which a Strategic Partnership Council was established to coordinate on various important issues.

READ PM Modi: "India And Saudi Arabia Have Similar Security Concerns"|

India-Saudi Arabia Strategic Partnership Council

The Prime Minister is currently on a two-day visit to the Gulf Kingdom to attend the Future Investment Initiative, held talks with the Saudi King Salman bin Abdulaziz and Crown Prince Mohammed bin Salman. After the delegation-level talks, the two sides signed an agreement to establish the India-Saudi Arabia Strategic Partnership Council to coordinate decisions regarding strategically important issues. The council will be headed by Prime Minister Modi and Crown Prince Mohammed and meet every two years. 

READ | PM Modi: India & Saudi Arabia To Form 'Strategic Partnership Council'

Modi and Saudi King Abdulaziz Al-Saud condemned terrorism

PM Modi and  Saudi King Salman bin Abdulaziz Al-Saud condemned terrorism in all its forms and manifestations. The two sides further agreed to step up bilateral security cooperation. Saudi Arabia, known to be a key ally of Pakistan, has been siding with India in its campaign to rid the region of terrorism and pledged to extend all cooperation to effectively deal with the challenge. 

PM Modi had further said, "I believe that Asian powers like India and Saudi Arabia share similar security concerns in their neighbourhood. In that respect, I am happy that our cooperation, particularly in the field of counterterrorism, security and strategic issues, is progressing very well. My national security adviser just visited Riyadh for a very productive visit.”

“We have a Joint Committee on Defense Cooperation that holds regular meetings. We have identified a number of areas of mutual interest and cooperation in the field of defence and security. We are also in the process of entering into agreements on security cooperation, collaboration in defence industries and also agreed to hold a comprehensive security dialogue mechanism between the two countries", PM Modi added. 

READ| Saudi King, PM Modi Hold Talks To Boost Bilateral Security Cooperation

READ | Key Financial Summit Begins In Saudi Arabia

(Inputs from PTI)