Custodian of the Two Holy Mosques King Fahd Ibn Abdul Aziz today chaired the regular weekly meeting of the Council of Ministers and expressed the Kingdom's regret at the tardiness of the Israeli side in implementing the Wye River Memorandum recently concluded between the Palestinians and the Israelis. King Fahd commended the crucial role played by the Administration of the United States of America in bringing the two parties together and paving the way for this agreement. He went on to remark that this step necessitates further American commitment in putting the agreement into effect by pressuring Israel not to evade its obligations, under whatever false pretext it might invent to foil a peace process that is vital for the preservation of security and stability in the region.
Information Minister Dr. Fuad Abdulsalaam Al-Farsi reported that King Fahd reiterated the importance of resuming negotiations on both the Syrian and the Lebanese tracks, suspended due to Israel's obstinacy and its reluctance to realize peace in accordance with the United Nations and the agreements it has signed with other concerned parties.
King Fahd then briefed the cabinet on the outcome of his talks in Riyadh last week with Vice-President of the Republic of South Africa Thabo Mbeki, noting that the two countries were closely seeking to establish a permanent strategic partnership based on firm cooperation in all fields. He also briefed the cabinet on the outcome of his talks with Iranian foreign minister Kamal Kharrazi, explaining that the two countries were desirous of deepening the good relations between them for the benefit, stability and security of the region.
The cabinet then issued a number of resolutions, including endorsement of the general agreement for cooperation in all areas, economic, commercial, investment, scientific, technical, cultural, sports and youth, between the Kingdom of Saudi Arabia and the Islamic Republic of Iran signed in Tehran last May; approval for commencement of consultations with the Republic of the Sudan on the drafting of an agreement for cooperation between the two countries in the field of youth and sports; and approval for an increase in the Kingdom's capital share in the International Monetary Fund (IMF) to 6,985,500 in drawing rights.