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Multi-faceted cooperation structure with Arab world soon: Tharoor

Category :India Sub Category :National,Business
2009-08-17 00:00:00
   Views : 224

Multi-faceted cooperation structure with Arab world soon: Tharoor

New Delhi, Aug 17 - With ties with the Arab world being crucial not only for India's energy security but also for its food security, efforts are on to have in place a structure of multi-faceted cooperation between the two sides, the government said Monday.

'India considers the Arab region very important in shaping our political, economic, trade, defence and security at both regional and global level,' Minister of State for External Affairs Shashi Tharoor said while releasing a publication, 'Arab World 2009 - Paradise Promised', here.

The publication, a manual on business and trade opportunities available in India and the Arab region, has been brought out by the Associated Chambers of Commerce and Industry (Assocham) in cooperation with the League of Arab States.

'In keeping with our desire to strengthen our relations with the countries of the (Arab) region, we are trying to put in place a structure of multi-faceted cooperation covering all sectors,' Tharoor said.

The minister said the Arab region was crucial for India not only in terms of energy security but also in terms of food security.

'Arab countries are vital sources of oil and gas. More recently, Egypt, Sudan and the Maghreb have become essential to India's energy security. Indian companies have secured concessions or have invested in the oil sector significantly in Sudan, Egypt and Libya,' he said.

'Less publicised perhaps is the enormous importance for India's food security countries such as Jordan, Nigeria, Morocco, Tunisia as providers of rock phosphate and phosphoric acid and potash, all of which translate into fertiliser for our farmers.'

Stating that the Gulf region has emerged as an important trading partner for India, Tharoor also said that work was on to have a free trade agreement (FTA) between India and the Gulf Cooperation Council (GCC).




Author :Indo Asian News Service



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