Saudi Arabia and India agreed to simplify visa regulations for businessmen and entrepreneurs by granting long duration multiple entries. India's Minister of External Affairs Pranab Mukherjee held two-hour-long meeting with his Saudi counterpart Prince Saud Al-Faisal here, Sunday. They agreed on a number of issues including liberalization of business visa regulations, setting up Saudi-India Fund and the enforcement of Bilateral Investment Promotion and Protection Treaty, said Rajeev Shahare, Minister and Deputy Chief of Mission at Indian Embassy. Shahare and the Saudi Ambassador to India Salah Al-Ghamdi also attended the foreign ministers' meeting. “The climate is ripe for Saudi Arabia and India to have concrete proposals on a number of issues concerning the bilateral relations,” Shahare quoted Prince Saud as saying. The two sides underscored the importance of private sectors from both countries playing a key role by establishing a number of joint ventures, enhanced trade and investment activities, he said. The Saudi side has accepted a proposal to establish Saudi-India Fund, which will act as a catalytic agent in initiating a momentum in further strengthening the relations between the two private sectors. Shahare said Prince Saud called on Indian businessmen to visit Saudi Arabia and explore business opportunities with Saudi Aramco, Saudi Arabian Basic Industries Corporation and Ministry of Petroleum and Mineral Resources. Mukherjee highlighted India's infrastructure development plans. __
