India can access surplus Gulf funds to beat global meltdown:PM

New Delhi, Nov 7 (PTI) On the eve of his visit to Oman
and Qatar beginning Saturday, Prime Minister Manmohan Singh
Friday suggested that India can leverage "vast surplus funds"
in the Gulf for its development needs in the backdrop of
current global financial crisis.

"The current international economic and financial
situation provides a unique opportunity for India to leverage
the vast surplus funds in the Gulf for our development needs
and to accelerate trade and investment flows into teach of the
countries," Singh said in a statement.

He said that during his visit he would be taking up with
the leadership of Oman and Qatar the safety and welfare of
Indians working there.

"We have a large number of Indian citizens working in
Oman and Qatar. Their contribution to these countries is
widely acknowledged and appreciated by the
authorities....During my discussions in Oman and Qatar, I
shall also discuss in which we can assure their safety and
welfare," Singh said.

Referring to his visit to Qatar on November 9-10, the
Prime Minister said "we attach great importance to our ties
with Qatar which is one of the largest and most reliable
suppliers of our energy needs from the region".

He said given the complementarities between the two
countries, "I am confident that we can build a mutually
beneficial and strategic partnership in this sector".

The Prime Minister, who also visits Oman on November
8-9, said India attaches vital importance to the Gulf region
because of its own security and prosperity.

"The Gulf region is an area of vital importance for
India's security and prosperity. We have always enjoyed a very
special relationship with countries of the region," he said.

"Nothing epitomizes this more than our ties with the
Sultanate of Oman and the Emirate of Qatar," he said.

Singh said he would hold detailed discussions on the
bilateral relations with Omanese Deputy Prime Minister Sayyid
Fahd Mahmoud Al Said besides meeting Sultan of Oman Qaboos bin
Said.

"Both India and Oman have a special vision for our
bilateral relationship and I will use my visit to find ways in
which we can concretize this vision into a broad and mutually
beneficial cooperative framework between the two countries,"
the Prime Minister said.

In Doha, the Prime Minister will have an audience with
the Emir of Qatar Sheikh Hamad bin Khalifa al Thani and will
hold discussions with his counterpart Sheikh Hamad bin Jassam
bin Jabor al Thani.

"I will discuss with them ways in which we can further
strengthen our relations and move them forward in all their
dimensions," Singh said. PTI MS
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