The Indian delegation was led by Nivedita Shukla Verma, Secretary, Department of Chemicals and Petrochemicals, while the Saudi side was headed by, Khalil bin Ibrahim bin Salamah, Vice Minister of Industry and Minerals.
Saudi Arabia is India’s fourth largest trade partner, and India is Saudi Arabia’s second largest trade partner. Bilateral trade between the two countries reached $41.88 billion in 2024–25, with chemicals and petrochemicals contributing 10 per cent, which is nearly $4.5 billion, The Ministry of Chemicals and Fertilisers said in a press release.
Both sides acknowledged the complementarities in the chemicals and petrochemicals sector of the two countries with petrochemicals as the strength of Saudi Arabia and India’s strength in speciality chemicals. It was agreed to have enhanced cooperation for harnessing the synergy between the two sides.
They discussed the opportunities for increasing the collaboration across the value chain of chemicals and petrochemicals, including investments in Petroleum, Chemical and Petrochemical Investment Regions (PCPIRs) of India and potential partnerships between major companies of both countries.
It was also agreed to collaborate in the field of research and development and skill development in the sector, added the release.
Both sides reaffirmed their commitment to building a sustainable and mutually beneficial partnership in the chemicals and petrochemicals sector, further strengthening the strategic and economic ties between India and Saudi Arabia.
ALCHEMPro News Desk (SG)
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