ANNExURE 4 235nomic developments taking place in both countries, there are vast
possibilities for a further increase in economic exchanges and
their diversification in the areas of investments, Joint Ventures
and increased participation of organisations in projects. The two
sides identified specific areas of cooperation. Discussions were
held with the private sector in Saudi Arabia on setting up joint
venture projects in the field of agriculture, fertilisers and cement.
It was proposed that a delegation of Saudi businessmen and
industrialists should visit India to explore further possibilities of
mutually beneficial economic cooperation. The delegation will
visit India shortly.- The two sides noted with satisfaction that the Agreement on,
Economic and Technical Cooperation signed in New Delhi last
year during the visit of the Foreign Minister of Saudi Arabia has
now been ratified by both the countries. The two sides agreed
that the first meeting of the Indo-Saudi Joint Commission estab-
lished under the Agreement on Economic and Technical
Cooperation will be held in October 1982. - Saudi Arabia and India expressed profound satisfaction with the
positive outcome and results of official visit of Her Excellency
Shrimati Indira Gandhi, Prime Minister of India, to the Kingdom
of Saudi Arabia which heralds a new era in Indo-Saudi relations.
This visit is an important step forward in the development of
increased understanding and cooperation between the two
countries. - Her Excellency Shrimati Indira Gandhi, the Prime Minister of
India, expressed sincere gratitude to the leadership and people of
Saudi Arabia for the warm welcome accorded to her and her del-
egation. She extended cordial invitations to His Majesty Khaled
bin Abdul Aziz, King of Saudi Arabia, to His Royal Highness
Crown Prince Fahd bin Abdul Aziz, Deputy Premier of the
Kingdom of Saudi Arabia and to His Royal Highness Prince
Abdullah bin Abdul Aziz, Second Deputy Premier to visit India.
The invitations were accepted with pleasure and the visit would
take place at mutually convenient dates.
April 20, 1982 Jeddah
Source: India, Foreign Affairs Record 1982