Prince Sultan Ibn Abdul Aziz, Second Deputy Prime Minister, Minister of Defense and Aviation and Inspector-General, today left Madrid after a four-day state visit to Spain.  In a joint communiqué following his visit, the Kingdom of Saudi Arabia and the Kingdom of Spain expressed profound concern at the current situation in the Middle East peace process, and stressed the need for positive efforts towards a comprehensive, just and permanent peace based on compliance with the relevant UN resolutions and the Madrid Accord with its land-for-peace principle.  The communiqué also reaffirmed support for the territorial unity and safety of Iraq, and urged Iraq to implement all relevant UN resolutions.

In the communiqué the two countries resolved to strengthen their long-standing bilateral relations, particularly in the economic field.  In this regard, the two sides agreed:

1. that the Saudi-Spanish Committee for Economic Cooperation hold its next meeting in Riyadh on December 2-3, 1997;
2. that the necessary measures be taken to expedite negotiations related to the agreement for the protection and insurance of mutual investment, and that contacts be initiated towards an agreement to avoid duplication of taxes;
3. to renew the technical and cultural agreement between the two countries;
4. that a committee of experts from the Spanish Ministry of Defense visit Saudi Arabia and a similar Saudi committee visit Spain to study ways of developing cooperation.

In addition, Spain expressed support of Saudi Arabia's application for membership in the World Trade Organization.

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