New Delhi/ Saudi Arabia , October 29: Prime Minister Narendra Modi said that Asian powers like India and Saudi Arabia share similar security concerns related to their neighborhood. The cooperation of the two countries is making very good progress, especially in the area of the elimination of terrorism and security and strategic issues.
The Prime Minister said in an interview to Arab News during his visit to Saudi Arabia that after the signing of the Strategic Partnership Council Agreement between India and Saudi Arabia, the two countries will already have strong ties and firmness. This is Prime Minister Modi’s second visit to Saudi Arabia in three years. Modi also shared a photo of his interview on twitter..
On the question of upheaval in many regions of West Asia, the Prime Minister respecting the principles of sovereignty and non-interference in internal affairs called for a resolution of these conflicts through a balanced approach.
He said that India shares excellent bilateral relations with all countries in the region and the region is home to more than eight million Indian expatriates. The process of promoting an important dialogue with the participation of all stakeholders is necessary to bring peace and security to the region.
Prime Minister Narendra Modi said that stable oil prices are important for the growth of the global economy. The Prime Minister praised Saudi Arabia for its vital role in meeting India’s energy needs and as a reliable source.
Expressing his views on the long-term energy relationship with Saudi Arabia, India’s largest oil supplier, the Prime Minister said that India imports about 18 percent of its crude from Saudi Arabia, making it the second largest source of crude for us . From a purely buyer-seller relationship, we are now moving towards a closer strategic partnership that will involve investment in Saudi Arabia in downstream oil and gas projects.
The Prime Minister said, ‘Neighborhood first’ is a part of his government’s foreign policy. India’s relations with Saudi Arabia are one of the most important bilateral relations in our extended neighborhood. His visit will herald a new era of cooperation in all fields. Our relations have not only strengthened but deepened and strengthened in various fields such as trade, investment, security and defense cooperation.
Describing his perspective on the current global economy, Prime Minister Narendra Modi said that the global economic outlook depends on the path adopted by large developing countries like India. As he mentioned in the United Nations General Assembly in September, collective efforts are needed for the all-round development of the faith of all. He stated that economic uncertainty is the result of unbalanced multilateral trading systems.
Under the G-20, India and Saudi Arabia are working jointly to reduce inequality and promote sustainable development. I am happy to know that Saudi Arabia will host the G20 summit next year and India will host it on the occasion of the 75th anniversary of its independence in 2022.
On the question of the current slowdown in Western economies and the role of India and Saudi Arabia in this scenario, the Prime Minister said that India has made several reforms towards becoming a key driver in creating a business-friendly environment and ensuring global growth and stability. Have done.
On the question of Saudi Arabia’s participation in the comprehensive smart city projects announced by the Government of India, Prime Minister Modi said that one of the major areas of cooperation between India and Saudi Arabia includes investment in infrastructure projects. During his visit to India in February 2019, the Crown Prince desired investment of over $ 100 billion in all regions of India.
He said that India welcomes more and more Saudi investment in its infrastructure projects, including the Smart Cities program. We also welcome Saudi’s willingness to invest in national investment and infrastructure funds.
The Prime Minister said that other major initiatives were the introduction of RuPay cards in Saudi Arabia which would facilitate payment and remittance to the overseas Indian community, besides the integration of e-migrate and e-Tausik portals, which would allow Indian workers to migrate to Saudi Arabia. This agreement is included in the proposal and a single agreement on the training of diplomats in our academies.
One of the most important outcomes of Prime Minister Modi’s visit is the establishment of a Strategic Partnership Council (SPC) between the two countries. India will be the fourth country to establish a Strategic Partnership Council (SPC) with Saudi Arabia after Britain, France and China.