India may offer IT expertise to Saudi during Singh's visit

RIYADH: India may offer Saudi Arabia its expertise in key areas like IT and pharmaceuticals during Prime Minister Manmohan Singh's three-day visit to the kingdom beginning from Saturday.

Singh, who is scheduled to arrive here this evening, would hold discussions with Saudi King Abdullah tomorrow and address the 'Shoura' Council on Monday.

He will also meet Foreign Minister Prince Saud Al-Faisal, Petroleum and Mineral Resources Minister Ali Al-Naimi and Commerce and Industry Minister Zainal Alireza.

According to 'Saudi Okaz', India may offer Saudi Arabia its expertise in important areas like IT and pharmaceuticals.

It noted that Saudi oil flow to India was a mere trickle in 2006 when King Abdullah paid a landmark visit to New Delhi to launch his path-breaking 'Look East' policy of engaging the powerful emerging economies of Asia in Saudi Arabia's quest to reduce its dependence on oil through economic diversification.

The Delhi Declaration signed by the King and Singh paved the way for enhanced bilateral relations in political, economic, security and cultural fields.

The King's visit resulted in Saudi Arabia replacing the UAE as India's number one source of crude oil, with exports jumping from $500 million to $23 billion in 2008.

India imports about 30 per cent of its oil from Saudi Arabia. Trade between the two countries in 2009 reached about 103 billion Saudi riyals ($27.5 billion).

Singh will also address the Council of Saudi Chambers of Commerce and Industry tomorrow.