Custodian of the Two Holy Mosques King Fahd Bin Abdul Aziz today chaired the regular weekly meeting of the Council of Ministers and highlighted the current state visit to the Kingdom by President of Venezuela Hugo Chavez Frias. Referring to the "effective and crucial" role the two countries have been playing in the Organization of Petroleum Exporting Countries (OPEC), he declared that they share identical viewpoints on ways to stabilize the global oil market and create the equilibrium that will guarantee the interests of both producers and consumers. The visit by the Venezuelan President is expected to further boost the deep-rooted and firm relations between the two countries.
King Fahd also briefed the cabinet on messages he had received from a number of Arab and friendly heads of state following the recent inconclusive Camp David Summit. These, he said, endorse the Kingdom's firm stand on Palestinian rights and ongoing efforts towards full restoration of the rights of the Palestinian people, with the hope of realizing a positive, fair and comprehensive outcome with regard to peace in the region. The Palestinian question, he stressed, has, ever since the days of King Abdul Aziz, remained a top priority for the people and government of Saudi Arabia, and the Kingdom will continue its support for the Palestinians until they establish their independent state on their own land, with Al-Quds [Jerusalem] as its capital.
Turning to domestic issues, the cabinet authorized the Minister of Foreign Affairs or his deputy to discuss a draft agreement on economic, cultural and technical cooperation between the Kingdom of Saudi Arabia and the Federative Republic of Brazil.