India Intelligence Report
 

India, Saudi Sign 3 Accords

 

The Saudi Arabian King Abdullah bin Abdul-Aziz al Saud completed his four-day state visit to India. Abdullah officiated as the Chief Guest at the Republic Day parade. India and Saudi Arabia have signed accords to cooperate bilaterally, regionally, and internationally to combat terrorism; Abdullah had called for a war on terrorism “irrespective of religion” and for “as long as it takes.” The Delhi Declaration also says that Saudi Arabia endorses the ongoing peace process between India and Pakistan. On the economic side, the two sides agreed on an energy partnership with complementary and interdependence of the two countries. The partnership also envisages long-term contractual agreements that will guarantee continued, increased, and stable supply of oil, refinery, and technology to India and joint ventures globally. Apart from oil, the two countries agreed to cooperate on communication, agriculture, biotechnology, and non-conventional energy technologies. Further, India would offer post-graduate and doctoral education to Saudi students. Saudi Arabia is the largest producer of and has the largest known reserves of crude oil in the world. India is Saudi Arabia’s fourth largest trading partner. A large number of Indian expatriates live in and Haj pilgrims visit Saudi Arabia. Indian major conglomerate Reliance Industries announced plans to set up a USD 8 billion oil refinery project in Saudi Arabia.

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