Saudi Arabia’s support for Yemeni people ‘will help them to cope with economic burdens’

King Salman chairs the Cabinet session in Riyadh on Tuesday. (SPA)
Updated 24 January 2018

Saudi Arabia’s support for Yemeni people ‘will help them to cope with economic burdens’

RIYADH: The Saudi Cabinet has lauded King Salman’s directives to deposit $2 billion in the Yemeni Central Bank, bringing total Saudi deposits in the account to $3 billion.
Chaired by King Salman at Al-Yamamah Palace on Tuesday, the Cabinet said this step comes as an extension of the Kingdom’s support for the Yemeni people. It will alleviate their sufferings and help them to cope with economic burdens caused by the crimes of the Iranian-backed Houthi militias that have plundered the country and its revenues.
In addition, the Cabinet welcomed the comprehensive humanitarian aid plan announced by the meeting of the Arab coalition supporting the legitimacy in Yemen, recently held in Riyadh, that included the contribution of $1.5 billion by coalition member countries. This constitutes more than 50 percent of the humanitarian aid program to Yemen announced by the UN for the current year.
The Cabinet also praised the decision of the foreign ministers of member states of the Organization of Islamic Cooperation (OIC) at their emergency meeting in Jeddah, where strong condemnation was made of Houthi militias for launching Iran-made ballistic missiles toward Riyadh on Dec. 19, 2017.
The OIC ministers considered that an attack on the Kingdom and proof of the Houthis’ refusal to comply with the decisions of the international community. The Cabinet appreciated the OIC ministers’ support for the Kingdom in the face of terrorism and their solidarity with the Kingdom in steps taken to preserve its security and stability and call for a collective stance against this aggressive attack.
The Cabinet, further, praised their condemnation of Iran for its interference in the internal affairs of countries of the region and its violation of the OIC foreign ministers’ decision in Makkah in Nov. 2016 and relevant Security Council resolutions calling on Iran to stop policies conducive to fueling sectarian disputes and abstain from supporting and funding terror groups.
On terrorism, the Cabinet expressed the Kingdom’s strong condemnation of a terror attack on a hotel in Kabul, Afghanistan, and renewed the Kingdom’s standing with sisterly and friendly countries against all acts of terrorism and extremism.
Later, the Cabinet approved two memos of understanding for cooperation in the area of health between the Kingdom and Indonesia and the United Kingdom, respectively. The Cabinet also authorized the minister of finance to discuss and sign a draft agreement between the Kingdom and the UAE to avoid double taxation and evasion. It also approved the national strategy on water.

Saudi Arabia, UAE agree on joint program to test supply chain and security systems

Updated 35 min 23 sec ago

Saudi Arabia, UAE agree on joint program to test supply chain and security systems

  • The test is in preparation for a crisis or disaster

JEDDAH: Supply chains and security systems are to be tested in preparation for a crisis or disaster in Saudi Arabia and the UAE, one of several initiatives agreed on Saturday by a body representing both countries.

The Saudi-UAE Coordination Council held its first executive committee meeting in Abu Dhabi. 

It was chaired by Minister of Economy and Planning Mohammed bin Maziad Al-Tuwaijri from the Saudi side, and Minister of Cabinet Affairs and the Future Mohammed bin Abdullah Al-Gergawi from the UAE side.

Al-Tuwaijri said the meeting was a continuation of the achievements made in bilateral relations.

A joint security cooperation program was signed to test the supply chain and security systems in the major sectors during a crisis or disaster, identify the points for improvement and develop a plan to address them.

It was agreed to introduce and market the products of small traders through joint events.

A virtual e-currency project was launched, but only on a trial basis. It will be restricted to trading between some banks in the Kingdom and the UAE in order to explore and prepare for future technologies.

Al-Tuwaijri also visited the Saudi Arabian pavilion at Expo 2020 in Dubai, heading an official delegation from the Kingdom.

The group was received by the minister of state for international cooperation and director general of the expo, Reem bint Ebrahim Al-Hashimy.

Saudi Arabia was the first international participant to begin building its pavilion for the event.

The Kingdom and the UAE have the two largest economies in the Gulf Cooperation Council and a combined gross domestic product of around $1 trillion.

There was a Saudi-UAE Coordination Council meeting last June in Jeddah that was chaired by the Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed and the Kingdom’s Crown Prince Mohammed bin Salman.  

The two main goals set out at that meeting were to enhance the domestic economy of both nations and counter threats to Gulf and Arab security.