RIYADH: Custodian of the Two Holy Mosques King Abdullah held talks with Spanish Vice President and Minister of Economy Elena Salgado Mendez yesterday.
The talks in Riyadh focused on closer cooperation in the fields of oil and economy. “The two countries, which enjoy cordial relations, have pledged to cooperate in the energy sector and share views on the oil market,” said a diplomatic source following Mendez’s talks with King Abdullah and Minister of Petroleum and Mineral Resources Ali Al-Naimi.
The meeting between Al-Naimi and Elena was attended by Prince Abdulaziz bin Salman, assistant minister of petroleum and mineral resources, and a number of senior officials.
The Spanish minister also held talks with Foreign Minister Prince Saud Al-Faisal and Acting Minister of Finance Abdulaziz bin Abdullah Al-Khuwaiter. The diplomat said the two sides discussed ways of enhancing economic and financial relations, keeping in view Spain’s pursuit of deficit reduction plans and work on bailing out its banks.
Mendez also discussed regional politics with Prince Saud. The two countries, which signed a military cooperation agreement earlier, have reaffirmed their desire to strengthen cooperation in security and military affairs.
“Spain looks at the Kingdom as a key player in the Middle East in regards to the region’s security and stability,” the source said. The two countries share common grounds that would help stabilize the region, he added.
On the commercial front, the two countries have forged closer cooperation. Spain has been striving to reduce differences in trade balance, which has been in favor of Saudi Arabia. Saudi imports have been in the region of $392 billion annually, while its exports exceeds $253 billion.
