india

Updated: Jul 15, 2020 07:48 IST

Prime Minister Narendra Modi has said India and Saudi Arabia have similar security concerns and their cooperation in counter-terrorism and strategic issues is progressing well.

Modi, who arrived in Riyadh on Monday night to participate in the Future Investment Initiative business forum and hold talks with the top Saudi leadership, said in an interview with Arab News that the two sides have “identified a number of areas of mutual interest and cooperation in the field of defence and security”.

“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,” he said.

The two countries also have a Joint Committee on Defence Cooperation that meets regularly and are in the process of entering into agreements on security cooperation and collaboration in defence industries, and have agreed to hold a comprehensive security dialogue mechanism, he added.

Modi also said under the leadership of King Salman and Crown Prince Mohammed bin Salman, bilateral relations will only grow stronger.

“Neighbourhood First” continues to be the guiding vision for the Indian government’s foreign policy, and relations with Saudi Arabia are one of the most important bilateral relationships in the extended neighbourhood, he said.

During the current visit, India and Saudi Arabia are going to sign an agreement on a Strategic Partnership Council, which will “begin a new era of cooperation across sectors”, Modi said.

“Our ties across various dimensions such as trade, investment, security and defense cooperation are robust and deep, and will only strengthen further,” he said.

Asked about the turmoil in West Asia and a possible role for India in reducing tensions, Modi said: “We believe that a balanced approach is required to resolve the conflicts, while respecting the principles of sovereignty and non-interference in each other’s internal matters.

“India shares excellent bilateral relations with all the countries in the region, and a very large Indian diaspora, numbering over 8 million, resides in the region. A dialogue process that encourages the participation of all stakeholders is important to bring peace and security to this very important region.”

Within the G20, India and Saudi Arabia have been working together to reduce inequality and promote sustainable development, he said.

Saudi Arabia is currently India’s second largest supplier of oil – providing about 18 % of its energy needs — and Modi said: “From a purely buyer-seller relationship, we are now moving toward a closer strategic partnership that will include Saudi investments in downstream oil and gas projects.

“We value the Kingdom’s vital role as an important and reliable source of our energy requirements. We believe that stable oil prices are crucial for the growth of the global economy, particularly for developing countries. Saudi Aramco is participating in a major refinery and petrochemical project on India’s west coast. We are also looking forward to the participation of Aramco in India’s Strategic Petroleum Reserves.”

The Prime Minister welcomed greater investments by Saudi Arabia in projects in India, including the Smart Cities programme. “During his visit to India in February 2019, the crown prince had indicated an intent to invest in excess of $100 billion in India across various sectors,” Modi said.

He said the 2.6 million Indian diaspora have contributed to the growth and development of Saudi Arabia. In a message to the diaspora, PM Modi said that they continue to remain the “binding force in India’s ties with the Kingdom.

Modi, visiting the kingdom at the invitation of King Salman bin Abdulaziz, will hold a bilateral meeting with the Saudi ruler and delegation-level talks with Crown Prince Mohammad bin Salman.