West Asia economic corridor
Two days after the launch of the India-Middle East-Europe Economic Corridor, Prime Minister Narendra Modi on Monday described Saudi Arabia as “one of the most important strategic partners of India”.
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The exchange between the two sides took place during the state visit of Crown Prince Mohammed Bin Salman of Saudi Arabia when they agreed to set up a joint task force to fast-track the West Coast refinery project.
West Asia economic corridor:
“As two of the world’s fastest growing countries, our partnership is important for the stability of the entire region. Yesterday, we took the historic step to connect India, West Asia, and Europe through an economic corridor. Apart from connecting the two countries, the corridor will help in the increase of economic growth, energy sector and digitisation,” said Mr. Modi, conveying India’s gratitude for the Kingdom’s initiatives to ensure welfare of the resident Indian expats.
Significant visit
Mr. Modi and Prince Bin Salman also co-chaired the first meeting of the India-Saudi Strategic Partnership Council (SPC).
West Asia economic corridor:
The State visit of the Crown Prince is significant as it comes months after Saudi Arabia ended hostility with Iran through a deal that was negotiated by China. It has also come weeks after Saudi Arabia became a member of the BRICS during the Johannesburg summit. The discussion focused on defence, energy, security, education, technology, transportation, healthcare, tourism and culture, space, and semiconductors as areas of possible cooperation.
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