Prime Minister to sign 9 pacts with Saudi Arabia
Prime Minister Manmohan Singh is expected to visit Saudi Arabia soon to expand the strategic ties between the two countries. The Ambassador of the country Faisal bin Hassan Ahmad Trad announced the visit on Friday.
During the visit, the prime minister is expected sign nine agreements including a joint investment fund of $750 million, an extradition treaty and one on transfer of sentenced persons. About 1,500 Indians are imprisoned in Saudi Arabia mainly on charges of improper documentation or for drug trafficking.
India utilises joint investment funds to tap surplus funds in the Gulf for its infrastructural requirements. Other agreements are to be signed in the sectors of science and technology, IT, and education.
Prime Minister Manmohan Singh had been planning to visit Saudi Arabia for a year but two earlier attempts did not work out due to mismatch in dates. Mr. Trad now expects the PM to visit the country either next month or in March.
India had recently appointed Talmiz Ahmad as the new Ambassador to Saudi Arabia aiming to strengthen bilateral ties.
The king of Saudi Arabia was chief guest at the Republic Day in 2006 and during his visit he had promised to take care of India's oil imports. The ambassador outlined that India had shifted its primary source to Saudi Arabia and imported oil worth $23.5 billion from the kingdom.
Saudi Arabia has emerged as an important country for India in the region as apart from being a major oil exporter; the country hosts more than 1.6 million Indians who visit either for travel or work. They send about $5 billion as remittances back home.
Saudi Arabia wants to put more checks on agencies taking workers to the country. The country's embassy and the consulate issued six lakh visas last year besides 1.6 lakh for Haj pilgrims.