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India and Saudi Arabia signed five agreements on terror financing & promoting trade

India and Saudi Arabia signed five agreements, including one on terror financing and another on promoting trade between the two countries, on Sunday, the second and final day of Prime Minister Narendra Modi’s bilateral visit to the Gulf kingdom. The agreements were signed after delegation-level talks here led by Modi and Saudi King Salman bin Abdulaziz Al Saud.

A memorandum of understanding was signed between the financial intelligence units of the two countries on cooperation in the exchange of intelligence related to money laundering, terrorism financing and related crimes, according to external affairs ministry spokesman Vikas Swarup.

Invest India and Saudi Arabian General Investment Authority (SABIA) signed a framework agreement on investment promotion cooperation. The external affairs ministry and the Saudi labour ministry signed an agreement on labour cooperation for recruitment of general category workers.

A fourth agreement was signed between Export Promotion Council for Handicraft (EPCH) and the Saudi Commission for Tourism and National Heritage on an executive programme for cooperation in the field of handicrafts. Another agreement for technical cooperation programme was signed between the Bureau of Indian Standards (BIS) and Saudi Standards, Metrology and Quality Organisation (SASO).

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