2007 News Story

Crown Prince Sultan discusses Middle East peace, investment cooperation with Itar-Tass

In an interview yesterday with Russia’s Itar-Tass, Crown Prince Sultan bin Abdulaziz said that the Arab Peace Initiative is a historic opportunity for Middle East peace, and expressed the hope that the upcoming summit in Annapolis would address core issues of conflict.

Prince Sultan is currently in Moscow for a three-day official visit to Russia and talks with President Vladimir Putin.

In the interview, Prince Sultan emphasized the close cooperation between Saudi Arabia and Russia. He said that his visit aims to boost bilateral cooperation in all areas – politics, finance, economy, commerce, industry, science, technology, and culture – and provide a forum for discussion of regional and international issues. Energy security and counterterrorism will also be on the agenda, Prince Sultan said.

The Crown Prince added that discussions are underway between Russia and Saudi Arabia on an agreement to promote and protect investment. He stressed that cooperation in this area is important, and urged businessmen from both countries to take advantage of the investment opportunities that are emerging from the deepening partnership between the two countries. In particular, the Crown Prince invited Russian companies to invest in the Kingdom’s mining sector and related services.