K.S. Ramkumar, Arab News Staff

JEDDAH, 18 September 2003 — Crown Prince Abdullah, deputy premier and commander of the National Guard, met with US Treasury Secretary John W. Snow at Al-Salam Palace yesterday. Their talks covered a range of issues including the need to dry up sources of terrorist funding worldwide.

“We discussed various issues including the war on terror. Saudis can set an example to all countries engaged in fighting global terrorism,” Snow told a press conference at the Conference Palace last night.

“We discussed the international and regional economic situations, including the Kingdom’s economic performance in light of regional developments, as well as our continued commitment to combat terrorist financing,” Snow added.

The meeting was attended by Finance Minister Dr. Ibrahim Al-Assaf, Saudi Arabian Monetary Agency Governor Hamad Al-Sayyari and US Ambassador Robert Jordan.

Snow also met with Foreign Minister Prince Saud Al-Faisal and discussed matters related to the Kingdom’s World Trade Organization membership as well as ways of strengthening cooperation in fighting terror. “The US has pledged its support for the Kingdom’s accession to the WTO,” he said.

“During our meeting with the crown prince, I conveyed US support to the Kingdom in its fight against terrorism. The crown prince reaffirmed the Kingdom’s commitment to the reconstruction efforts continuing in Afghanistan and Iraq,” said Snow, who handed to the crown prince a message from President George Bush.

The US secretary called his meetings with the crown prince, ministers and officials “fruitful and productive.”

“Our discussions show the Kingdom’s officials are deeply committed to the people of Iraq, Afghanistan and the Middle East,” Snow said. “The Kingdom is continuing generous aid to rebuild Afghanistan,” he said and added: “Saudis have been real leaders along with Japan and the United States in rebuilding Afghanistan.” Snow also emphasized the role of economic reforms in Saudi Arabia.

“The Kingdom’s reforms will strengthen its economy and make it more flexible and resilient to achieve higher levels of growth,” Snow said. He stressed the need for the Kingdom to diversify from dependence on oil revenues and promote the various non-oil sectors. A sizeable section of the Kingdom’s population being under 21, “the country needs to produce jobs outside the energy sector,” he said.

He said he also discussed a number of reforms including the opening of the investment sector “which will bring in overseas investments and best practices.”