Asharqia Chamber organized a meeting of the Indian trade delegation
About 84.7 billion riyals, the volume of trade exchange between the Kingdom and India in 2020, despite the pandemic
Asharqia Chamber organized the meeting of the Indian trade delegation amid a remarkable presence from the business sector in the Eastern Province.
During the meeting hosted by the Chamber's headquarters on Tuesday, June 14, 2022, the First Deputy Chairman of the Board of Directors of the Asharqia Chamber, Hamad bin Muhammad Al-Buali, stressed the strength of the historical relations between the two countries, which spanned for more than seven decades, noting that the Republic of India is one of the largest trading partners of the Kingdom.
During the meeting, which was attended by the Deputy Director-General of the Federation of Exporting Organizations in India, Prashant Seth, Al-Buali said that the bilateral relations between the two countries are old and continuous and witness excellence in all fields, hoping for their development in the coming years with more partnerships between the private sector in the two countries towards optimal exploitation of the available opportunities. He praised the role of the Saudi-Indian Business Council in supporting trade communication and strengthening and strengthening trade relations between the two countries.
Al-Buali explained that the economic relations between the Kingdom and the Republic of India are strategically based on common interests and mutual respect, and the two countries have strong economic and trade relations, as India ranked third on the list of countries to which the Kingdom exported and fifth on the list of countries that imported Including in 2020, and the volume of trade exchange between the two countries, despite the pandemic, amounted to about 84.7 billion riyals in 2020, compared to 125.6 billion riyals in 2019 AD, and compared to 83.5 billion riyals in 2016.
Al-Buali also pointed out that there is a mutual interest between the two countries to enhance the exchange of trade delegations at all levels to strengthen bilateral relations so that trade relations are witnessing rapid development and growth. Broader horizons of cooperation await it in light of the new government incentives for the Kingdom, which liberated the national economy, made it more open, and took care of all economic sectors to achieve Vision 2030 by diversifying the economic base.
It is noteworthy that the Indian trade delegation included several businessmen and investors in the food and food sector.
