Finance
India and the Gulf Cooperation Council (GCC) discussed deepening cooperation across various pillars of the India-GCC Joint Action Plan (JAP) 2024-2028, including political dialogue, security, trade and investment, agriculture and food security, transportation, energy, health, culture, and education, during the two-day India-GCC Political Dialogue, which concluded on Monday in Riyadh, Saudi Arabia.
Arun Kumar Chatterjee, Secretary (CPV & OIA) in the Ministry of External Affairs (MEA), led the Indian team to the dialogue, which included extensive discussions with Abdulaziz Aluwaisheg, Assistant Secretary General (ASG) for Political Affairs and Negotiations of the Gulf Cooperation Council.
During the meeting, the two sides also discussed regional and international matters of common interest. Chatterjee was joined to the meeting by Additional Secretary (Gulf), Aseem R Mahajan.
The Secretary had a separate bilateral discussion with Raja M. Marzoqi, General Coordinator for Negotiations and Head of the GCC’s Negotiating Team. Both sides emphasized the importance of the India-GCC Free Trade Agreement and decided to begin negotiations as soon as possible. They also explored new ways to strengthen commercial and investment links between India and the GCC.
The GCC was formed in 1981 by an agreement in Riyadh between Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the UAE in recognition of their particular links, geographical proximity, comparable political systems founded on Islamic principles, shared destiny, and common goals.
India and GCC countries share historically close and friendly ties, underpinned by vibrant trade linkages and strong people-to-people ties. Ties between India and GCC countries in recent years have deepened in various sectors, including trade, investment, energy, health, technology and cultural exchanges. Nearly 10 million Indian diaspora reside in the GCC region. Trade and Investment between India and GCC continues to increase with total trade of around USD 178 Billion in FY 2024-25.
“Secretary (CPV and OIA) also attended a special reception hosted by the Embassy of India and the Indian diaspora living in the Kingdom of Saudi Arabia. Speaking on the occasion, Secretary (CPV & OIA) commended the valuable contribution made by the Indian community in strengthening the bilateral relations of India with the Kingdom of Saudi Arabia. He also appreciated their significant role in the economic development of the Kingdom of Saudi Arabia. He thanked the leadership of Saudi Arabia for taking care of the welfare of the Indian diaspora,” read a statement issued by the MEA.
External Affairs Minister (EAM) S Jaishankar co-chaired the India-GCC Joint Ministerial Meeting for Strategic Dialogue last year, alongside Qatar’s Prime Minister and Minister of Foreign Affairs, Sheikh Mohammed bin Abdulrahman bin Jassim Al Thani, who was then President of the GCC Ministerial Council. This was India’s first meeting with the Gulf Cooperation Council (GCC) Foreign Ministers.
According to a MEA statement, the summit adopted a cooperation Action Plan 2024-2028 for a variety of cooperation actions in sectors like as health, trade, security, agriculture and food security, culture, transportation, and energy. The two sides also agreed that additional areas of cooperation could be added to the Joint Action Plan subsequently, based on mutual agreement.
Source: IANS
