India – Saudi Arabia signed defense cooperation deal
India and Saudi Arabia signed a Memorandum of Understanding (MoU) on defense cooperation for greater exchange of information and training in New Delhi. The agreement was signed by Saudi Arabia’s Minister of State for Foreign Affairs Nizar Bin Obaid Madani and India’s Minister of State for Defence Jitendra Singh.
- The two sides also agreed to strengthen cooperation in the area of radio and television, as also in fields of media coverage and training, besides agreeing to activate the agreement signed between Saudi Press Agency (SPA) and the Press Trust of India (PTI).
- The pacts were signed in the presence of Crown Prince of Saudi Arabia Mr. Salman bin Abdulaziz Al Saud, who was on a three-day visit to India. (Mr. Al Saud is also Saudi Arabia’s Deputy Prime Minister and Defence Minister).
- Saudi Arabia is India’s fourth largest partner with bilateral trade of over $43 billion in 2012-13. Saudi Arabia is also India’s largest crude oil supplier accounting for about 20% of total imports in 2012-13.
Note:Saudi Arabia is the 6th largest market in the world for Indian exports and is destination of more than 4.08 percent of India’s global exports.
Categories: International Current Affairs