India and Saudi Arabia have agreed to take steps to boost investment and enhance cooperation in the various fields including education and science and technology.

The decision was taken at a two-day meeting of their Joint Commission on Technical and Economic Cooperation (JCM) in New Delhi that concluded today. External Affairs Ministry said in a release, the meeting took stock of progress made since 'Riyadh Declaration' signed during visit of Prime Minister Manmohan Singh to Riyadh and discussions were held by sub-committees dealing with economic and commercial, education and science and technology and consular and community affairs.

Both sides noted that while trade between them was growing rapidly, cooperation in investments needed to be raised to make it commensurate with that of bilateral trade.

The meeting also discussed the contours of future action plans for mutually beneficial bilateral cooperation. The meeting was co-chaired by Finance Minister Pranab Mukherjee and Saudi Minister of Commerce and Industry Tawfiq bin Fowzan Al-Rabiah. Mr.Al-Rabiah was accompanied by a 36-member delegation including Deputy Minister for Foreign Trade Abdullah A Al Hamoudi.

The visiting Minister also called on the Prime Minister and External Affairs Minister S M Krishna. He also met Commerce and Industry Anand Sharma and Petroleum Minister Jaipal Reddy.