India and Saudi Arabia reviewed their cooperation across several areas, including defence, security, trade, investment, energy, technology, healthcare and education.

During her meeting with Saudi Finance Minister Mohammed Aljadaan on the sidelines of the AIIB Annual Meeting in Doha, Finance Minister Nirmala Sitharaman described Saudi Arabia as a trusted and valued strategic partner for India. The two sides welcomed the successful conclusion of negotiations on the India Saudi Arabia Bilateral Investment Treaty, which is intended to provide a stronger and more predictable framework for investments.

Sitharaman also met Switzerland’s AIIB Governor Ambassador Pietro Lazzeri to discuss investment opportunities in India, including through the National Investment and Infrastructure Fund and GIFT IFSC.

In a separate meeting, she held discussions with Nepal’s Finance Minister Swarnim Wagle on flood recovery efforts and bilateral projects. The two sides also discussed steps towards the early operationalisation of the UPI and Nepal’s digital payment network linkage.