Crown Prince Abdullah Bin Abdul Aziz, Deputy Prime Minister and Commander of the National Guard, today chaired the regular weekly meeting of the Council of Ministers and commended the important role being played by the business sector of the Kingdom of Saudi Arabia in reinforcing the national economy, a role that is crucial for the realization of the ultimate objectives of the social and economic strategies to provide the necessary requirements in commodities and services for citizens and employment for the majority of Saudi youth.
Minister of Information Dr. Fouad Al-Farsi reported that the Crown Prince expressed delight that no supply crisis prevailed despite the steady increase in the population and called for greater effort as well as cooperation between the Ministry of Commerce and the Chambers of Commerce and Industry in the organizing of training courses and the conducting of studies on marketing and investment opportunities in the Kingdom. He also urged Saudi businesses to recruit more national cadres and utilize modern technology.
Dr. Al-Farsi further reported that the Crown Prince discussed with the cabinet a number of domestic issues. On the political arena, Crown Prince Abdullah expressed the hope that the ceasefire in Bosnia-Herzegovina announced last Thursday would help in reaching a peaceful settlement whereby Bosnian Muslims would live in their country in peace and stability after years of brutal attacks waged by the aggressive Serbs against the defenseless Muslim population.
The cabinet also reviewed a number of issues pertaining to the Arab world including ways of closing Arab ranks and promoting solidarity. Referring to resolutions passed during today's meeting, Dr. Farsi said that upon a recommendation presented by HRH Prince Saud Al-Faisal, Minister for Foreign Affairs, the cabinet approved the Memorandum of Understanding between the Kingdom and Egypt concerning amendment of the Agreement to set up a Saudi-Egyption Joint Commission for Bilateral Cooperation which was concluded on December 24, 1994.
The cabinet also authorized the Minister of Finance and National Economy or his delegate to sign the final documents of the agreement between the Kingdom and Sri Lanka regarding the avoidance of double taxation on the revenues of the air transport corporations of the two countries.