With the Riyadh Declaration signed between Prime Minister Manmohan Singh and King Abdullah of Saudi Arabia,one of the least explored and exploited of bilateral relationships has come closer to realising its potential. In January 2006,a little less than six months after assuming office,King Abdullah had visited India. This visit was important,and not just because it was the first by a Saudi monarch in five decades. Dr Singhs visit,delayed for several reasons,is the first by an Indian prime minister since 1982. The Riyadh Declaration and the several agreements inked,most significantly the Extradition Treaty,should build on the opportunities created by the Delhi Declaration of January 2006 and strengthen Indo-Saudi security,economic,defence and political ties.
Other agreements signed,apart from the business deals,relate to transfer of sentenced persons,cultural cooperation,an MoU for peaceful use of space and joint research and IT. Sustained by these particular agreements,this is Indias moment to deepen its long-term strategic understanding with Saudi Arabia,which has already been outlined in the Riyadh Declaration. Riyadh had rapidly grasped the emerging world order and immediately sought to broaden its foreign and security engagements through King Abdullahs Look East policy. The first premise of a deeper engagement is of course energy security: Saudi Arabia is Indias biggest oil supplier,and India a top-rank importer of Saudi oil. The Delhi Declaration had called for stabilising crude supplies through evergreen long-term contracts. India also needs Saudi investment in oil refining and storage as well as infrastructure,while Saudi Arabia needs help with IT,agriculture,biotech and alternative energy.