Riyadh : As many as 3,000 senior government officials, eminent economists and leading financial analysts will take part in the fourth forum of the Gulf Cooperation Council and India, slated for June 14-16.
The Jeddah Chamber of Commerce and Industry will host the event, which will be a big step in bolstering economic and business ties between the six-member GCC and India.
Ministers of Commerce and Industry will attend the three-day event.
Heads of chambers of commerce and industry as well as senior officials of major international and regional financial institutions and leading banks will take part in the meeting.
Mustafa Sabri, secretary general of the Jeddah Chamber, held talks with the Secretary General of GCC Chambers Abdul Rahim Naqi about the preparations for the event.
The forum is aimed at seeking the avenues of investment opportunities on both sides and promoting small scale projects and technical programmes in these countries.
Remarkable growth
The forum gains significance in the wake of the remarkable growth taking place in India in the IT sector as well as in small scale ventures.
In a press statement, Mustafa Sabri said that India is one of the major trade partners of the Gulf states. There are about five million Indian nationals working in the GCC states.
"GCC-Indian relations are a major topic of discussion in view of the increasing prominence for both sides on the regional and international arenas," he said.
Observers of GCC-India relations noted that until the recent past, both sides focused mainly on the economic aspect in the light of the strong presence of an Indian workforce in the GCC states.
But now, relations have become much stronger and deeper, especially in strategic and security aspects. Khalid Al Hibas, professor of political science at King Abdul Aziz University of Jeddah, said that India is one among the leading powers among the developing countries in the world.
"India is likely to exercise much more influence at the global level in the near future.
"The Gulf region, with its vast reserve of oil and gas and other sources of energy, can secure its economic and political significance with enhanced cooperation and strategic partnership with India," he said.
