The Minister of Commerce and Industry Dr. Tawfiq bin Fawzan Al-Rabiah opened here today the works of Saudi-Indian Joint Business Council at the headquarters of Confederation of Industry.

In his opening speech, Dr. Tawfiq Al-Rabia expressed his pleasure over the rapid development of economic and trade relations, noting that the volume of trade exchanges between the two countries exceeded SR 87 billion in the year 2010, an increase of 5 times compared to the year 2000, indicating that India ranks the 7th on the list of the largest trading partners of the Kingdom of Saudi Arabia.

He welcomed investments from Indian business sector in projects in the Kingdom of Saudi Arabia or in partnership with Saudi businessmen in various fields.

The opening ceremony was attended by the delegation accompanying the Minister, Saudi Ambassador to India Dr. Saud bin Mohammed Al-Sati and Indian Ambassador to the Kingdom of Saudi Arabia Hamid Ali Rao.