India and Saudi Arabia would now issue multiple-entry visas to businessmen in an effort to overcome regulatory hurdles blocking the growth of two-way trade.
A decision to this effect was taken at the Indo-Saudi Joint Commission meeting attended by finance minister Pranab Mukherjee and the Saudi minister of commerce and industry, Abdullah Zainal Alireza, here at the weekend.
"This was a major impediment. Every time we wanted to come to Saudi Arabia to do business our people had visa issues; likewise, Saudi businessmen had similar complaints. Now that has been resolved," Sharad Nandurdikar of the Confederation of
Indian Industry (CII) said.
Adnan A Al-Nueim, secretary-general of the Asharqia Chamber, said Saudi Arabia’s trade ties with India are set to grow further with the reciprocal visits. He said Saudi-Indian ties advanced after the 2006 visit of King Abdullah to India.
A 10-member delegation of Indian businessmen, which accompanied Mukherjee, also met key Saudi executives of the Eastern Province Chamber of Commerce and discussed taking the Indo-Saudi trade to the next level.
Nandurdikar said an important meeting is slated in Delhi early next year to address specific issues regarding processes and procedures affecting two-way trade.
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