2007 News Story

Cabinet welcomes OPEC summit, condoles Bangladesh on deadly cyclone

 Custodian of the Two Holy Mosques King Abdullah bin Abdulaziz chaired the weekly Cabinet meeting at Al-Yamamah Palace in Riyadh today.

King Abdullah opened the session by praising the results of the Third OPEC Summit of Heads of State, which was held in Riyadh November 17-18. The King welcomed the spirit of brotherhood and cooperation seen at the summit, and praised its emphasis on oil as a means for development rather than as a tool for dispute and conflict.  He reiterated that Saudi Arabia’s oil policy seeks to foster dialogue between producing and consuming countries and to combat poverty in developing countries.

The King also briefed the Cabinet on his recent contacts and consultations with world leaders and their envoys, in particular his meeting with Palestinian Authority President Mahmoud Abbas. In addition, Crown Prince Sultan briefed Cabinet members on last week’s Saudi-Yemeni Coordination Council.

Turning to the recent deadly cyclone in Bangladesh, the Cabinet extended condolences to the government of Bangladesh and the families of the victims. It reiterated the Kingdom’s support for Bangladesh to help the country overcome the hardship caused by the cyclone.

The Cabinet approved a number of items today, including: the final accounts for the Supreme Commission for Tourism for FY 2005-2006; a Memorandum of Understanding on cultural cooperation with Russia; a draft agreement on technical training with France; and the Board of Directors for the Saudi Stock Exchange (Tadawul).