JEDDAH, 30 November 2005 — Crown Prince Sultan, who held extensive talks with South Korean Prime Minister Lee Hae-chan on Monday night, emphasized the growing relations between the two countries.
“Saudi-Korean relations have made considerable progress since the visit of Custodian of the Two Holy Mosques King Abdullah to South Korea some years ago,” he told a joint meeting in Riyadh.
The crown prince called upon businessmen in both countries to work for strengthening cooperation in all fields.
In his speech, Prime Minister Lee underscored Saudi Arabia’s growing role in the Middle East as well as on the world stage. He congratulated the Kingdom for its accession to the World Trade Organization. “Saudi Arabia plays an important role in the world economy,” he pointed out.
“The Saudi-Korean meeting discussed issues of mutual concern, most importantly the situation in the Middle East, in addition to ways of boosting commercial relations,” the Saudi Press Agency said.
Top Saudi officials including Prince Abdul Rahman, deputy minister of defense and aviation, State Minister Dr. Musaed Al-Aiban, Economy and Planning Minister Khaled Al-Gosaibi and Transport Minister Dr. Jabara Al-Seraisry attended the meeting.
In comments published yesterday, the South Korean prime minister said his talks with Saudi officials would focus on investment in petrochemicals and natural gas.
“Our country will contribute to renovating oil refineries and building desalination and electricity plants in the Kingdom,” Al-Riyadh Arabic daily quoted the premier as saying. Lee promised that South Korea would play a significant role in the transfer of technology and exchange of expertise in the operation and maintenance of power plants.
He said South Korea supported the Arab peace plan, originally proposed by King Abdullah in 2002 when he was crown prince. The plan calls for total Israeli withdrawal from occupied Arab territories and establishment of an independent Palestinian state with Jerusalem as its capital. “Our government strongly supports Saudi Arabia’s efforts to solve the Israeli-Palestinian conflict,” he added.
Lee described Saudi Arabia as his country’s seventh largest trading partner. South Korea is the Kingdom’s third largest trading partner with two-way trade amounting to $10.68 billion last year. He said more Korean companies would enter the Saudi market to expand bilateral trade and investment relations.
The prime minister said he had noticed a considerable growth in investments within the Kingdom as a result of soaring oil prices.
“We expect Saudi Arabia will achieve tremendous progress in the industrial sector,” he added.
Before leaving Riyadh yesterday after a two-day visit, Lee also met with State Minister and acting Minister of Petroleum and Minerals Dr. Mutlab Al-Nafeesa, Prince Abdul Aziz ibn Salman, assistant minister for petroleum affairs, and Water and Electricity Minister Abdullah Al-Hussayen.
Speaking to reporters after his meeting with Lee, Al-Hussayen said he had received an invitation to visit South Korea in order to see the latest technology in sewage water treatment.
