Saudi Arabia and India have decided to raise their existing bilateral cooperation to a strategic partnership covering security, economic, defense and political areas, according to the Riyadh Declaration issued after Indian Prime Minister Manmohan Singh held talks with King Abdullah, Custodian of the Two Holy Mosques, here Sunday. Singh received a grand welcome at Rawda Palace where he was accorded a Guard of Honor. Two countries' National Anthems were played on the occasion. King Abdullah and Premier Singh emphasized the importance of developing a broad-based economic partnership that reflects the ongoing transformation of their economies, and the changes such transformation are bringing about in the global economic order, including continuous coordination within the framework of the G-20 process. The two leaders reiterated their mutual desire to develop as knowledge-based economies based on advances in the areas of information technology, space science and other frontier technologies. They welcomed the agreements signed between the two sides in the field of Research and Education, Information Technology and Services, Science and Technology, and Peaceful Uses of Outer Space. Both leaders stressed on continuing to work towards strengthening their strategic partnership by meeting the two countries' vast requirements relating to infrastructure, energy and development, by augmenting the flow of their investments into each other's countries, and enhancing the bilateral trade in accordance with the potential and size of their economies. In this regard, the two leaders invited the private sector in the two countries and the Saudi-India Business Council to increase their efforts to take advantage of the investment opportunities provided by the two countries. “India invited Saudi Arabia to participate in crude storage facilities in India,” the statement said and added that the two countries directed the Joint Working Group on Energy to continue adopting all appropriate means to achieve the same. Saudi Arabia and India signed five agreements including Extradition Treaty and the Agreement for Transfer of Sentenced Persons serving jail terms in Saudi Arabia. They also agreed to enhance cooperation in exchange of information relating to terrorist activities, money laundering, narcotics, arms and human trafficking, and develop joint strategies to combat these threats. In the regional and international issues, the Middle East Peace Process was high on agenda. The two sides hoped for the early resumption of the peace process in accordance with the UN Security Council Resolutions 242 and 338, and the Arab Peace Plan with a view to address all the key issues of the dispute comprehensiviely and within a definite time frame leading to the establishment of a sovereign, independent, united and viable Palestinian State, in accordance with the two-state solution. The two leaders also reiterated their support for ongoing international efforts to resolve the issues relating to Iran's nuclear program peacefully through dialogue and called for continuation of these efforts. The two leaders discussed the situation in Afghanistan and called for the preservation of Afghanistan's sovereignty and independence. On Iraq they expressed hope that the forthcoming elections will enable the people of Iraq to realize their aspirations by achieving security and stability, strengthening territorial integrity and consolidating its national unity on the principle of equality of rights and obligations among all Iraqis irrespective of their faith and sect.
