Saudi Arabia is mobilizing a group of business owners for an upcoming visit to India, accompanied by a high-level government delegation, to participate in the G20 summit next month.
The volume of trade exchange between the two countries reached $42.8 billion over the past year. Saudi Arabia is India’s fourth largest trading partner after the United States, China and the UAE, and a major source of energy. New Delhi imports about 18.4 percent of its crude oil needs and 22 percent of its liquefied petroleum gas from Riyadh.
According to information available to Asharq Al-Awsat, the Saudi government has encouraged private sector entities to attend the Saudi-Indian Investment Forum, which is scheduled to be held on Sept. 11.
The forum will review investment partnerships between the two countries and will witness bilateral meetings and the signing of a number of economic agreements.
Saudi ministers are currently participating in the ministerial meetings of the G20 in India, ahead of the presidential summit that will be held next month, with the participation of all leaders and presidents of the group.
Finance Minister Mohammad Al-Jadaan, accompanied by Minister of Health Fahad Al-Jalajel, recently participated in a joint meeting of finance and health ministers of the G20 countries.
Minister of Communications and Information Technology Eng. Abdullah Alswaha headed a delegation representing the digital economy, innovation and space system in the Kingdom to participate in the meeting of the G20 Ministerial Working Group on the Digital Economy.
CEO of SABIC Abdulrahman bin Saleh Al-Fageeh will lead the Kingdom’s business delegation to the upcoming G20 Business 20 summit, which will be held in New Delhi, on Aug. 25-27.
Al-Fageeh stated that the event is an important opportunity for the business community in the Kingdom, underlining the need to address critical global challenges shaping the future of business and economies.
He also stressed the importance of communicating with business leaders from all over the world in order to highlight the business environment in the Kingdom as a promising investment destination.
