Saudi Arabia to launch joint trade council with Iraq
Saudi Arabia to launch joint trade council with Iraq
The agency aims to regulate the military industry in the Kingdom, develop and monitor its performance, and do everything necessary to achieve its objectives.
The Cabinet decided that the authority shall have a board of directors chaired by the deputy prime minister and comprising the minister of energy, industry and mineral resources, the minister of finance, the minister of trade and investment, and the chairman of the board of directors of the Saudi Military Industries Co.
Last Wednesday, the state-owned Saudi Public Investment Fund (PIF) announced the launch of a national state company for arms manufacturing to produce thousands of jobs in the Kingdom. The new company, Saudi Arabian Military Industries (SAMI), is part of the Kingdom’s Vision 2030, the sovereign wealth fund PIF said in a statement.
Saudi Arabia and Iraq will also launch a joint trade commission, the Saudi Cabinet announced on Monday. “The Cabinet has decided to approve the establishment of the Saudi-Iraqi Coordinating Commission and to delegate the Saudi minister of trade and investments to sign on behalf of the kingdom,” read a statement carried by the press agency SPA.
The two countries had no diplomatic relations for a quarter of a century. They were severed in the wake of Saddam Hussein’s 1990 invasion of Kuwait, after which Saudi Arabia was the launchpad for a US-led coalition to remove Iraqi forces.
The Cabinet praised the positive developments achieved by the state budget in the second quarter of the fiscal year 1438/1439 (2017), which were represented in progress in revenues, improvement in spending efficiency, a drop in the deficit, and maintaining the level of basic services provided to citizens.
The Cabinet also reviewed the quarterly financial report which reflected progress in the achievement of a balanced financial performance in the medium term, and the effectiveness of economic reforms under the National Transformation Program and Vision 2030, which contributed to the generation of more non-oil revenues.
The Cabinet was briefed on the preparations of ministries and sectors participating in serving pilgrims and providing comfort for pilgrims and visitors of the Two Holy Mosques and holy sites. In this context, the Cabinet vehemently rejected the politicization of Hajj.
The Cabinet expressed thanks and appreciation to the crown prince on his directives to support 14 charity organizations in the Riyadh region with SR23 million ($6.1 million) from his own account.
The Cabinet praised the graduation of the first batch of those participating in the operations Decisive Storm and Restore Hope. They represented non-regular students of Imam Mohammed bin Saud Islamic University. The Cabinet appreciated their determination to pursue their studies and, at the same time, defend the country.
On the global front, the Cabinet expressed the Kingdom’s strong condemnation of terror acts in Egypt, Afghanistan, Pakistan, Burkina Faso and France, and its sympathy with the governments and peoples of these countries against all forms of terrorism and extremism.
Saudi Arabia says missing journalist Jamal Khashoggi is dead
- The journalist died after a fistfight at the consulate in Istanbul
- Deputy intelligence chief, royal court adviser removed from positions, 18 Saudis arrested
JEDDAH: Saudi Arabia announced on Saturday the death of missing journalist Jamal Khashoggi, saying a preliminary investigation indicated he lost his life after a fight at the Saudi consulate in Istanbul.
“The discussions between Jamal Khashoggi and those he met at the kingdom's consulate in Istanbul... devolved into a fistfight, leading to his death,” the Saudi Press Agency said, citing the public prosecutor.
Eighteen Saudis have been arrested in connection with the incident and the investigation is ongoing, the public prosecutor said.
“The Kingdom expresses its deep regret at the painful developments that have taken place and stresses the commitment of the authorities in the Kingdom to bring the facts to the public opinion, to hold all those involved accountable and bring them to justice,” a statement on the SPA said.
Khashoggi, a Saudi journalist who lived in the US, disappeared on Oct. 2 after visiting the consulate to complete paperwork related to his divorce.
Deputy intelligence chief Ahmed Al-Asiri was removed from his position and Saud Al-Qahtani from his advisory role at the Royal Court, through royal decrees.
Three other intelligence officials who were also sacked have been named as Mohammad bin Saleh Al-Rumaih, Abdullah bin Khalifa Al-Shaya and Rashad bin Hamed Al-Muhamadi.
King Salman also ordered the creation of a ministerial committee, headed by Saudi Crown Prince Mohammed bin Salman, to restructure the country’s General Intelligence agency and issue the results of its work within a month.
Members of the committee include the interior and foreign ministers as well as the heads of the General Intelligence and State Security.
A team of Saudi investigators were sent to Istanbul and have been working on the case with Turkish detectives, who entered the consulate on Thursday.
Earlier in the week, Saudi Arabia promised a thorough and transparent investigation into what happened to the journalist in Turkey.