Volume of trade with Kingdom crosses SR130 billion: Indian envoy


Saudi Gazette report

AL-AHSA – Indian Ambassador Dr. Ausaf Sayeed highlighted the significance of increasing the volume of trade between the Kingdom and India. Addressing a business meet hosted by Al-Ahsa Chamber of Commerce and Industry on Wednesday, he underlined the need for further bolstering economic and trade ties between the two countries through meetings, events and commercial visits.

The business meet was held on the sidelines of the Indian Catalogs Exhibition, which was organized by the Chamber in cooperation with the Indian Embassy. Abdullatif Al-Arfaj, chairman of the board of directors of the chamber, and a number of businessmen and representatives of some companies in Al-Ahsa attended the event.

Ausaf said that the data and figures showed that the Kingdom is the fourth largest trading partner of India, and its major source of energy. “India imports about 18 percent of its needs of crude oil from the Kingdom, noting that the volume of bilateral trade between the two countries increased during 2018-2019 by about 24 percent, that valued at SR130 billion,” he said while citing a series of measures to improve the ease of doing business in the two countries.

The meeting and exhibition are an extension of the series of events organized by the chamber to inform and empower businessmen and businesswomen in Al-Ahsa on the latest information and data about commodities and products of friendly countries.

The exhibition witnessed the display of a large collection of identification catalogs, CDs, samples, brochures and various publications related to 200 Indian companies, operating in several sectors such as agriculture, food, cars, electronic, chemical and technical products, machinery, construction equipment, pharmaceuticals, motors and textiles, in addition to other specialized catalogs on tourism and healthcare in India.