Commerce minister Piyush Goyal met his Saudi Arabia counterpart Dr. Majid bin Abdullah Al-Kassabi and held extensive discussions on bilateral trade, commerce, and investment links on September 18 and 19. Goyal was in Saudi Arabia to attend the ministerial meeting of the India-Saudi Arabia Strategic Partnership Council.
Among the key points of discussion were the diversification and expansion of trade and commerce, the removal of trade barriers, the feasibility of institutionalizing Rupee-Riyal trade, and collaboration in the digital fintech sector through the operationalization of UPI and Rupay Card in the Kingdom of Saudi Arabia.
Goyal also met Khalid Al-Salem, President of the Royal Commission of Jubail, and Yanbu, Saad Al-Khalb, CEO, of Saudi EXIM Bank, and other senior officials of the Ministry of Industry, Saudi Arabia. Discussions were held on a wide range of topics such as institutional tie-up of the EXIM banks of the two countries, joint projects in third countries, mutual recognition of standards, the establishment of startup and innovation bridges, strengthening collaboration in infrastructure development, and increasing project exports from India. Along with Goyal, Saudi Minister for Energy, Prince Abdulaziz bin Salman Al-Saud co-chaired the meeting of the Council.