Custodian of the Two Holy Mosques King Fahd Bin Abdul Aziz today presided over the regular weekly meeting of the Council of Ministers, and expressed satisfaction at the preparedness of all concerned authorities for the upcoming 20th Summit of the Gulf Cooperation Council (GCC) that Saudi Arabia is hosting in Riyadh from November 27 to 29. King Fahd issued a welcome to the leaders of the six member states - Bahrain, Kuwait, Qatar, Oman and the United Arab Emirates in addition to Saudi Arabia - and urged the Saudi authorities to intensify their efforts for the success of this important event. King Fahd went on to express full confidence in the future of the GCC, which, he said, has realized many accomplishments in the areas of politics, security, economics, social affairs and the exchange of information. These vital achievements qualify the GCC for its prestigious status in all Arab, Islamic and international forums, with its aim of enhancing world stability and serving not only its own peoples, but all Arab and Islamic causes.
Turning to domestic matters, the cabinet passed a number of resolutions, including authorizing the Minister of Foreign Affairs or his representative to discuss a draft agreement with the Republic of Sri Lanka; and authorizing the Minister of Finance and National Economy or his representative to sign a draft agreement between the government of the Kingdom of Saudi Arabia and the administration of the United States of America on dual tax exemption on revenues yielded from international operation of ships or aircraft.