Riyadh (Saudi Arabia): India and Saudi Arabia share security concerns in their neighbourhood and their cooperation on security issues, including counter-terrorism, are progressing well, Prime Minister Narendra Modi has said.

"I believe that Asian powers like India and Saudi Arabia share similar security concerns in their neighbourhood," Modi said, without referring to any country. 

Saudi Arabia is a key ally of Pakistan, which is accused by its neighbours of providing safe havens to terrorists.

Prime Minister Narendra Modi, who is in Riyadh for a two-day visit held bilateral talks with King of Saudi Arabia Salman bin Abdulaziz Al Saud.

Prime Minister Modi arrived in Saudi Arabia on Monday at the invitation of the Saudi King. Upon his arrival at the King Khalid International Airport, Modi was welcomed a guard of honour. In his statement, the Prime Minister noted that India and Saudi Arabia have enjoyed traditionally close and friendly relations and that the latter has been one of the largest and reliable suppliers of India's energy needs.

This is Modi's second visit to the Gulf nation. During his first visit in 2016, King Salman conferred Saudi's the Prime Minister with the country’s highest civilian award. The Crown Prince visited India in February 2019.

The Prime Minister will deliver a keynote address at the Future Investment Initiative (FII) which will be followed by an interaction with a moderator at the conference.

The FII Forum is also known as the 'Davos in the Desert' has been hosted by Riyadh since 2017 to project the Kingdom as a potential investment hub in the region. Pakistan Prime Minister Imran Khan will also participate in the third edition of Saudi's high-profile annual financial conference.

After delivering the address, Modi will meet Crown Prince Mohammed bin Salman. A dinner will be hosted by the Crown Prince in honour of the Indian leader. 

Prime Minister Modi will then depart for New Delhi in the night after wrapping up his engagements.

Prior to his departure from India, Modi said in a statement that he looks forward to his participation in the FII Forum where he would be speaking about the growing trade and investment opportunities for global investors in India as the country marches forward to a $5 trillion economy by 2024.