Minister of State for External Affairs Shashi Tharoor today said India and Arab countries have more scope for strengthening their ties through economic, social and cultural cooperation when developed countries are facing global meltdown. <br/><br/>Addressing an International Conference in New Delhi, Mr Tharoor said India and Arab countries share age-old ties and in the wake of global meltdown and world's major economies crippling, the Indo-Arab partnership can lay the foundation of a new market and growth.<br/><br/>He said terrorism and extremism could be combated more efficiently when together. The minister said there is now a perceptible shift of power towards the BRIC countries– Brazil, Russia, India and China and India has become a preferable place for global investors.