`Strong India-Middle East ties will benefit both`

Last Updated: Wednesday, February 29, 2012 - 18:29

New Delhi: Underlining the need for
increased cooperation between India and Middle East, Deputy Chairman of Rajya Sabha K Rahman Khan Wednesday said close ties between the two sides would prove beneficial for both of them.

"About two billions of Indians are working in Saudi
Arabia, which is virtually the centre of the Middle East. Our
NRIs are remitting USD 11 billion annually in the Indian
economy. I am sure the two countries coming together will
benefit both," Khan told reporters here.

He was talking to journalists after returning from Saudi
Arabia`s capital Riyadh, where he led an Indian delegation in
the recently concluded Third G-20 Speakers` Consultation
meeting.

The conference mainly discussed the impact of Eurozone
financial crisis on G-20 nations in which India is also a
party, the energy crisis in the world and the alternatives
available and global dialogue of cultures.

In the three-day convention that concluded on February
26, Khan made presentation on the theme of `Financial Crisis and
its impact on Global Economy` and an intervention on the theme
`Global Dialogue of Cultures`.
He said changes taking place in world economy, including
a shift in economic balance towards emerging markets, will
have significant policy implications at the global level.

Khan said that the Riyadh conference focused on the
financial crisis and the need of sustainable development of
energy on a priority basis.

"The existing barriers to free trade have negatively
impacted developing economies. It is, therefore, important
that the trade regime built under the auspices of WTO
addresses the concerns of the developing countries," he said.

Khan also said that the diversity of Indian society and
inter-faith harmony here received wide acclaim during the
consultations.

PTI



First Published: Wednesday, February 29, 2012 - 18:29

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