Riyadh hosted the first round of the India-Gulf Cooperation Council (GCC) Senior Officers Meeting (SOM). According to a press release from the Ministry of External Affairs, Ausaf Sayeed, secretary (CPV&OIA), met with Saudi Vice Minister for Foreign Affairs, Eng. Waleed bin Abdul Kareem El-Khereiji, on the Political-Security-Social-Cultural pillar of the India-Saudi Arabia Strategic Partnership Council (SPC).
First India-GCC Council
During the March 20 India-GCC meeting, both sides expressed satisfaction with the progress made in trade and investment between India and the GCC countries. The Indian delegation was led by Ausaf Sayeed, while the GCC delegation was led by Abdul Aziz Bin Hamad Al-Owaishaq, Assistant Secretary-General for Political Affairs and Negotiations for the Gulf Cooperation Council.
According to a press release issued by the Ministry of External Affairs (MEA), both parties agreed to complete the India-GCC Free Trade Agreement (FTA) as soon as possible. Sayeed urged greater collaboration between India and the GCC countries in renewable energy, food security, health, the information technology sector, and counter-terrorism. The two sides proposed forming Joint Working Groups to address specific areas of cooperation between India and the GCC countries.
Key Focus will be more collaboration between India and GCC countries in
- Renewable energy,
- Food security,
- Health,
- IT sector
- Counter-terrorism
- International Strategies
- Economy and Investment
According to the release by the MEA, the two sides agreed to make further progress on priority opportunities identified by the Committee in a variety of sectors, including renewable energy, grid connectivity, pharmaceuticals, food security, IT, fintech, and water resources.
On March 19, Sayeed met with Mohammad Al Hassnah, the Saudi Ministry of Investment’s Deputy Minister for International Partnerships, to discuss opportunities for bilateral investment exchanges. The two parties discussed establishing an investment bridge to expedite pending investment projects and facilitate investors.
About Gulf Cooperation Council
The Gulf Cooperation Council, also known as the Cooperation Council for Arab States of the Gulf, is a regional, intergovernmental, political, and economic union comprised of Bahrain, Kuwait, Oman, Qatar, Saudi Arabia, and the United Arab Emirates. The council’s main headquarters are in Riyadh, Saudi Arabia’s capital.
All current member countries are monarchies, with three being constitutional monarchies (Qatar, Kuwait, and Bahrain), two being absolute monarchies (Saudi Arabia and Oman), and one being a federal monarchy (the United Arab Emirates, which is composed of seven member states, each of which is an absolute monarchy with its own emir). Jordan, Morocco, and Yemen have all expressed interest in joining the organization.
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