Embassy of India


Visit of Hon’ble Finance Minister Shri Arun Jaitley to Riyadh, Saudi Arabia

(February 18-19, 2018)


Hon'ble Finance Minister of India Shri Arun Jaitley paid a two-day visit (February 18-19, 2018) to Riyadh, Saudi Arabia to co-chair the 12th India-Saudi Arabia Joint Commission Meeting. The Saudi side was headed by Minister of Commerce & Investment Dr. Majed Al Qasabi.

Hon’ble Finance Minister called on the Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud in the Royal Court, Riyadh yesterday and discussed ways of further strengthening and diversifying bilateral cooperation in the fields of mutual interest.

Hon’ble Minister of Finance also held bilateral meetings with the Saudi Minister for Finance H. E Mr. Mohammad Al Jada'an; Minister for Energy, Industry and Mineral Resources H. E Eng. Khaled Al Falih and Deputy Minister for Foreign Trade Mr. Abdurrahman Al Harbi and held detailed discussions on furtherance of bilateral cooperation in diverse fields in line with the Saudi Vision 2030.

Speaking at the Joint Commission Meeting, Minister said that Saudi Arabia has been a key partner and wish to enhance the bilateral relations to newer horizons. He stressed that India has core competence in Pharmaceuticals, Healthcare, IT, Tourism, Hospitality, Automobiles sectors etc. and emphasized that India wishes to be a long term and a reliable partner in the Saudi's ambitious transformation programme. The JCM concluded with the signing and exchange of minutes focusing on Trade & Commerce, Security, Finance, Agriculture, Information & Media, Health, Vocational Training & Education, Tourism & Archeology, Housing, Energy, Sports, Culture and Community Welfare. Both the sides also agreed to constitute a Joint Working Group on the trade and investment issues. It is decided to organize an annual forum of young entrepreneurs and another annual forum on women entrepreneurs under the aegis of Saudi-India Business Council. Indian side also highlighted the issues faced by the Indian Community and the Saudi side promised to address these issues through consular dialogue at an early date.