Singh’s Saudi Visit Commences Today, India Likely to Offer IT Expertise

During Prime Minister Manmohan Singh’s visit to Saudi Arabia, India can offer its expertise in key areas like IT and pharmaceuticals to the Arabian nation, reported PTI.

Singh leaves for a three-day visit to Saudi Arabia on Saturday.

Singh, who will arrive in Riyadh in the evening, is scheduled to have discussions with Saudi King Abdullah tomorrow and address the ‘Soura’ Council on Monday, said report.

The prime minister also meet foreign minister Prince Saud Al-Faisal, petroleum and mineral resources minister Ali Al-Naimi and commerce and industry minister Zainal Alireza, report said.

Report said quoting ‘Saudi Okaz’ that India might offer Saudi Arabia its expertise in important areas like IT and pharmaceuticals.

It noted that Saudi oil flow to India was a mere trickle in 2006 when King Abdullah paid a landmark visit to New Delhi to launch his path-breaking ‘Look East’ policy of engaging the powerful emerging economies of Asia in Saudi Arabia’s quest to reduce its dependence on oil through economic diversification, said report.

The Delhi Declaration signed by the King and Singh paved the way for enhanced bilateral relations in political, economic, security and cultural fields.

The King’s visit resulted in Saudi Arabia replacing the UAE as India’s number one source of crude oil, with exports jumping from $500 million to $23 billion in 2008.

India imports about 30 per cent of its oil from Saudi Arabia. Trade between the two countries in 2009 reached about 103 billion Saudi riyals ($27.5 billion).

Singh will also address the Council of Saudi Chambers of Commerce and Industry tomorrow.