Newsletter - September 12-18, 2005 - #126

In This Issue

Crown Prince Sultan Addresses the 60th Session of the United Nations General Assembly 

"..The Kingdom of Saudi Arabia, by virtue of its role in the international arena and as the home of the Two Holy Mosques to which all Muslims turn, is determined to contribute to the success of this historic gathering.  Mr. President: This international summit is being held five years after the UN Millennium Summit, whose agreed-upon objectives still require more effort in order to be met.  Today we are in dire need of an effective United Nations, one that is capable of fulfilling its responsibility for maintaining international peace and security, fostering sustainable development and safeguarding human rights in a manner that respects the diversity of societies and cultures.."

Saudi ambassador’s credentials accepted by United States

"..Prince Turki Al-Faisal [Sep 13] presented a copy of his diplomatic credentials to U.S. Secretary of State Condoleezza Rice in New York.. ..'It is an honor for me to represent my country as Ambassador to the United States, and I look forward to assuming my new duties.  Our two countries have had a strong and mutually beneficial relationship for over six decades, and I look forward to working to further strengthen and deepen these historic ties..'"

Saudi backs OPEC increase despite crude surplus

Leading OPEC producer Saudi Arabia on Saturday said it will back an increase in cartel output limits next week even though it is struggling to sell additional crude.  "Absolutely, yes," Saudi Oil Minister Ali al-Naimi said of Riyadh's support for raising OPEC's 28-million barrel a day output ceiling.  "Absolutely not," was his assessment of the need for more crude on the world market. "I've offered up to 11 million (barrels a day) but we have had no response whatsoever."

Saudi women soon to assume senior positions at Foreign Ministry

"..Al-Watan has learned that the Foreign Ministry has begun the process of nominating a number of prominent Saudi women to assume senior positions at the ministry soon. The sources said serious efforts were being made to assign senior positions to five Saudi women for the first time in Saudi history, including a position at the level of ambassador.  A prominent committee at the ministry will nominate a number of qualified academicians to fill these jobs. The final list of candidates is expected to be announced within a few weeks.  Prof Salwa al-Hazza cited Foreign Minister Saud al-Faisal as saying at a meeting with members of a committee set up to improve the kingdom's image in the West in the British capital that a Saudi woman was to be appointed to the position of ambassador-at-large soon. Al-Hazza added five Saudi women had been nominated for this position, whose names would be announced within weeks.  This step comes after the ministry successfully announced several job opportunities for women in the past few months. These included 70 positions in various specializations, including 19 for researchers in international relations as well as translation and administration. At the time, more than 1,600 Saudi women applied. A committee made up of women was formed to choose the most qualified.  Foreign Minister Saud al-Faisal announced on the sidelines of the Saudi-British symposium held in the United Kingdom on 23 February 2005 that Saudi women would be joining the Foreign Ministry this year. He added that the progress made in education had created a generation of highly-educated Saudi women who had assumed their place in serving the Saudi society.."

Source: Al-Watan Web Site

In the News

Kingdom Will Deal With All WTO Members
”Saudi Arabia will deal with all members of the World Trade Organization (WTO) in accordance with WTO agreements when it joins the world body, Commerce and Industry Minister Dr. Hashem Yamani, who led the Kingdom’s WTO negotiating team, announced.. ..He said the secondary and tertiary boycott of Israel had been abrogated with the Cabinet decision dated 14/1/1426 based on a resolution taken by the GCC summit in December 1993..”

Kingdom, Switzerland to Sign 2 Economic Deals
”Saudi Arabia and Switzerland will sign two major economic agreements in order to boost bilateral links. ‘The draft of a Saudi-Swiss investment promotion and protection agreement has been finalized and the two sides are working simultaneously to set up a joint business council,’.. ..The two countries have also set up 12 joint projects with a cumulative capital of SR1.573 billion..”

‘Kingdom Must Finalize Natural Gas Pricing Before WTO Entry’
”Before its entry into the World Trade Organization (WTO), Saudi Arabia must still finalize discussions on the pricing of natural gas for petrochemical companies, according to ambassador Bernard Savage, chief of the delegation of the European Commission in Saudi Arabia.. ..’we are pushing ahead on those and we are hoping that we can continue discussions with Saudi Arabia in order to reach an agreement in time to allow for Saudi Arabia’s accession at the Hong Kong ministerial meeting of the WTO toward the end of the year’..”

Jeddah to Host Business Forum
”The Ninth International Business Forum will be held in Jeddah on Oct. 2.. ..The topic for the forum according to Dr. Ghassan Ahmed Al-Sulaiman, chairman of JCCI is ‘Intra-OIC Trade: Challenges and Opportunities’..”

Saudi Women to Run for Office for First Time
”For the first time, Saudi women will be able to run for office in the Jeddah Chamber of Commerce and Industry (JCCI) elections in November, an official source said. The Ministry of Commerce and Industry agreed on [Sep 13] to allow Saudi businesswomen to run for seats on the chamber’s board of directors..”

Saudi Can Offer Crude, But World Needs Petrol
”Top oil exporter Saudi Arabia has pledged again to pump more crude if required, but said what world consumers need most are refined fuels such as gasoline and heating oil. Crown Prince Sultan, in remarks run by state news agency SPA on [Sep 15], blamed a price spike that took U.S. crude to $70.85 a barrel on a global shortage of refineries, not the crude to run in them.. ..But Qatari Energy Minister Abdullah al-Attiyah said the proposed hike, viewed by analysts as a goodwill gesture, was unlikely to ease prices and urged consuming states to make it easier to build new refineries to produce more fuel..”

Samsung To Construct Plant In Saudi Arabia
”Samsung Engineering Co., Korea's leading industrial plant builder, announced [Sep 15] that it has won a $350 million plant construction deal from Saudi Arabia. Under the deal, the firm will build the world's largest ethylene glycol plant, with an annual capacity of 700,000 tons, for Sharq, a state-run petrochemical corporation in Al Jubail, 600 kilometers (373 miles) east of the Middle Eastern country's capital, Riyadh..”

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