SAUDI-REMITTANCE 2 LST

The balance of trade between the two states has
consistently swung in favour of Saudi Arabia, its trade
surplus standing at 67.3 billion Saudi riyals in 2008, up
almost seven-fold from 2000 levels.

For India, Saudi Arabia comes fourth after China, the
United States and the United Arab Emirates as its
most-important trading partner.
Saudi imports of Indian goods stood at 18 billion
Saudi riyals in 2008, marking an almost six-fold rise from
2000, according to data of the Saudi Arabian Monetary Agency
(SAMA).
"That positioned India as the sixth-largest source of
Saudi imports, accounting for 12.4 per cent of the kingdom's
total imports from Asia in 2008. India's geographic dependence
on Gulf oil is likely to become amplified in the coming years
due to limited prospects for enhancing domestic energy
production," said John Sfakianakis, the Chief Economist at the
bank.
Common interests in supporting peace and promoting
security in the region, as well as building counter-terrorism
measures, form a pivotal part of the bilateral relationship,
which has become strengthened in the recent past due to Iran's
nuclear ambitions.
Indian interests in the Gulf Arab region are perceived
as more important than its interests with Iran. PTI ZH
PRS


The information contained in this electronic message and any attachments to this
message are intended for the exclusive
use of the addressee(s) and may contain proprietary, confidential or privileged
information. If you are not the intended
recipient, you should not disseminate, distribute or copy this e-mail. Please
notify the sender immediately and destroy
all copies of this message and any attachments contained in it.