The Vice Custodian of the Two Holy Mosques Prince Mohammad bin Naif bin Abdulaziz chaired the Cabinet's session at Al-Salam Palace in Jeddah this afternoon.

The Cabinet began with a brief on the results of the official visit of the Custodian of the Two Holy Mosques to the United States, upon the invitation of President Barack Obama, stressing the keenness of the two countries to deepen and strengthen strategic partnerships during the 21st century.

The Cabinet discussed the latest regional developments, including the situation in Yemen, and expressed its condolences on the death of Saudi, Bahraini and United Arab Emirati soldiers who participated in Operation Renewal of Hope in Yemen.

The Vice Custodian of the Two Holy Mosques briefed the Cabinet on his meeting with President Abed Rabbo Mansour Hadi of Yemen.

The Vice Custodian renewed the Kingdom's keenness, under the leadership of the Custodian of the Two Holy Mosques King Salman bin Abdulaziz, that Yemen and its brotherly people would enjoy more security and stability.

Turning to domestic issues, the Cabinet expressed its appreciation to security agencies and Saudi Customs for preventing drug smuggling and to apprehend people involved in drug smuggling activities.

The Cabinet was briefed on the remaining agenda, among them some have been studied by the Shura Council, and approved the following: authorized the Minister of Finance, his deputy, to sign a draft agreement on the avoidance of double taxation in regard of taxes on income and prevent tax evasion, with Gabon; approved the regulation of the Saudi Contractors Commission and authorized the Minister of Commerce and Industry to form its first board of directors, provided that the members should be among those interested in the profession of contracting; authorized the Minister of Communications and Information Technology, or his deputy, to negotiate and sign a draft memorandum of understanding on cooperation in the field of communication and information technology with Serbia; approved the memorandum of understanding in the field of labor with Jordan, which was signed in Riyadh in 22/3/1436 H.; approved the re-formation of the board of directors of the Agricultural Development Fund for three years to be headed by the Minister of Agriculture; approved the creation of a national program to develop the fishing sector in the Kingdom, so that the ministry of agriculture will be in charge of managing it in coordination with the pertinent agencies of its choice.