Hijjah 21, 1431, Nov 27, 2010, SPA -- Saudi Arabia and India Friday agreed to increase investments in each other's country through joint ventures to enhance economic cooperation. The visiting Saudi Commerce and Industry Minister Abdullah Bin Ahmed Zainal Ali Reza and his Indian counterpart Anand Sharma, who met here, agreed to regular exchange of business delegations in both countries, according to a report published today by the Jeddah-based Saudi Gazette. While India-Saudi Arabia trade ties at present are already quite substantial, there is immense potential for taking the bilateral trade relations to the higher level, Sharma said. Sharma said that India is keen to set up joint ventures for gas-based fertilizer plant in Saudi Arabia. "Indian firms have evinced keen interest in setting up of such projects in the Kingdom of Saudi Arabia,” the paper quoted an official statement as saying in New Delhi.
