- Riyadh, January 25, 2010

  The Custodian of the Two Holy Mosques, King Abdullah bin Abdulaziz Al Saud chaired the Cabinet session held at Al-Yamamah Palace here today.

  At the outset of the session, the Custodian of the Two Holy Mosques briefed the Cabinet on the talks he held with Turkish Prime Minister Recep Tayyip Erdogan during his visit to the Kingdom of Saudi Arabia. The King praised the depth of relations between the two countries as well as their keenness to develop them in all fields to achieve security and stability in the region.

  The Custodian of the Two Holy Mosques also briefed the Cabinet on the contacts and consultations that took place during the past week with a number of world leaders on international developments, including the message he received from Finland's President Tarja Halonen which was delivered by Finland's Minister of Foreign Affairs Alexander Stubb. The King also briefed the Cabinet on the meeting he held with Tony Blair, the former British Prime Minister and the Middle East Peace Envoy for the Quartet.

  In a statement to the Saudi Press Agency (SPA) following the session, the Minister of Culture and Information Dr. Abdulaziz bin Mohieddin Khoja said that the Cabinet listened to reports on the developments at Arab, regional and international arenas.

  Dr. Khoja said that the Cabinet reviewed a number of issues at the domestic level, including the outcomes of the meeting of the Supreme Council for Petroleum and Minerals which was held yesterday under the chairmanship of the Custodian of the Two Holy Mosques. The Council discussed the oil market situation, confirming the Kingdom's keenness on the interest of producing and consuming countries. The Council expressed satisfaction over the Kingdom's investments in the field of expanding the capacity of producing and refining crude oil in order to meet global demand. The Cabinet also highlighted the Kingdom's effort in the field of environmental protection.

  The Cabinet hailed the King's approval to extend the Custodian of the Two Holy Mosques Scholarship Program for five years as of the fiscal year 1431/1432. The Cabinet also praised the Second Arab Report for Cultural Development issued by the Arab Thought Foundation. The report ranked the Kingdom of Saudi Arabia first in Arab countries and seventh in the world in the field of creativity and innovation. It also ranked the Kingdom first in Arab countries and eighth in the world in the field of spending on education.

  The Cabinet adressed the 4th Global Competitiveness Forum organized by Saudi Arabian General Investment Authority in Riyadh under the patronage of the Custodian of the Two Holy Mosques.

Dr. Khoja said that the Cabinet reviewed a number of issues on its agenda and issued the following decisions:

  The Cabinet authorized the Minister of Commerce and Industry (or his deputy) to discuss with the Qatari side a draft memorandum of understanding on industrial cooperation between the government of the Kingdom of Saudi Arabia and the Government of the State of Qatar; and sign it within the framework of the Saudi-Qatari Coordinating Council.

  The Cabinet authorized the Foreign Minister (or his deputy) to discuss with the World Assembly of Muslim Youth a draft headquarters agreement between the Government of the Kingdom of Saudi Arabia and the World Assembly of Muslim Youth as well as the draft protocol; and sign them.

  The Cabinet approved a number of measures pertaining to the development of an appropriate mechanism for delivering services to granted lands.

  The Cabinet authorized the Minister of Finance (or his deputy) to sign a draft agreement and the draft protocol between the Government of the Kingdom of Saudi Arabia and the Government of the Republic of Singapore on the avoidance of double taxation and prevention of tax evasion on income taxes.

The Cabinet amended paragraph 6 of Article 3 of the Portability of Benefit Rights between The Civil and Military Retirement Schemes and Social Insurance Scheme. The paragraph shall read as follows:

  '6- The aggregated contribution periods shall not be complementary periods for the entitlement for retirement pension before attaining the age of sixty in the last Scheme. The contributor shall complete the period required by this Scheme, unless the reasons for aggregation are a result of privatization or the service termination is a result of death or disability. In case of aggregation resulting from privatization, the contributor may not combine the retirement pension and salary of employment covered by the Civil or Military Retirement Scheme or Social Insurance Scheme'.