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Our economy has withstood global crisis, says Abdullah
Published in The Saudi Gazette on 27 - 12 - 2009


Jeddah floods: No leniency toward negligent
Oil price will stabilize or increase marginally
GCC needs lot of sincere work for its progress
King Abdullah, Custodian of the Two Holy Mosques, has expressed confidence in the state of the Saudi economy, which he said had successfully managed to withstand the global financial crisis. “The effects of the crisis have not caused people to panic. Our sovereign wealth funds have not been affected and we are maintaining a rate of growth that is lower but remains positive,” he said.
In an interview with Kuwaiti newspaper ‘Al-Siyasah' conducted by its Editor-in-Chief Ahmed Al-Jarallah, the King said the Saudi army has driven away the last infiltrators from its territory. The King said his instructions to Saudi forces were “clear”, demanding that operations be confined to Saudi territory without entering Yemen.
In the wide-ranging interview, King Abdullah touched upon many issues from oil prices, the fighting at the Saudi-Yemeni border, the future of the Gulf Cooperation Council (GCC) and the recent floods that affected Jeddah.
The King described oil prices as satisfactory.
“We predicted an oil price of 75 to 80 dollars per barrel at the beginning of the year. This is what we considered acceptable, and now it has reached this level,” the King said.
“(We expect) the price will stabilize or increase marginally,” he added.
Not hiding his disgust and discomfiture at the recent tragedy that struck Jeddah, the King stressed the importance of pinpointing those responsible and of holding them accountable.
“We would not be lenient to any negligent party in this regard,” the King said.
The following is the full text of the interview:
Q: How do you see the work accomplished by the 30th GCC summit recently held in Kuwait?
A: At the outset, I should point to the warm welcome and generous hospitality of Kuwait. We have been honored by Kuwait's Emir Sheikh Sabah Al-Ahmad Al-Jaber Al-Sabah's good feelings toward our country and our family in Saudi Arabia. Let me tell you that what binds us with Kuwait, its people and the ruling family is a fraternal, deep-rooted and historical relationship that is a true model of cohesion and cooperation between brothers and underlines the ideal ties between our nations.
With regard to the GCC Summit, it has reconfirmed solidarity among the GCC states. These states have been enjoying effective interaction and mutual interests, which serve to upgrade their position at Arab and international arenas. The positions, announced in the final communiqué or the remarks of the GCC leaders, have been a true reflection of the leaders' stances. We, in Saudi Arabia, feel that the way of the GCC states is integrated and is based on good faith and work toward a better future for our peoples. Some of the projects have been approved at the summit. They serve the vital, economic, developmental and sustainable development of the peoples of the region. They are important projects, but we want more than what has been accomplished.
Q: Are you satisfied with the results of the GCC summit, or do you want more?
A: Let me compare the GCC and the European Union states. In spite of different customs, languages and cultures among the peoples of the European Union, great strides have been made in developing unity, solidarity, and common interest. The GCC states are united by religion, language, and even dialect which should make them better united than the European Union.
We agreed at the summit on the electricity grid and water interconnection between the GCC states. The Gulf single currency agreement was approved and we have taken a decision to establish railway interconnection among the six states. These projects are a good beginning for a new phase 30 years after the GCC foundation. These six countries are very important on many levels, and their turning point of development should be very quick.
Our states have deep culture and a religious, humanitarian civilization, and they enjoy great economic strength. Therefore, they can achieve great leaps forward in the field of development and growth so that they will not be outside the world development movement.
Q: What do you desire from these six countries (in the future)?
A: The GCC peoples want that their leaders move along one united track whether in world markets, or at international forums, rather than each state going a separate way, which allows those with interests abroad to exploit each state. These interests may stem from cultural agendas they want to export to our societies, or from economic interests to be imposed by the strong on the weak.
You ask me what I want from the GCC? I want one strong power, an effective power with one track and a sense of unity.
Q: Thirty years after the foundation of the GCC, how do you see the performance of its leaders?
A: The GCC has been consolidated by solidarity between its peoples and leaders. It needs a lot of sincere work for its progress so that we can leave to future generations what we are proud of.
At the summit, I put a lot of stress on solidarity, and how relations should be between the GCC states, peoples and leaders. Leadership is a burden and it is faithfulness that enlightens our hearts and our way for the interest of the homeland and the nations so that we can be a strong nation.
We should note that the world around us has been troubled, and it has passed through an economic storm. We thank Allah that we have gotten out of it despite the panic experienced by the people. The world is talking now about an environmental catastrophe that may have negative effects on the ground.
The world has witnessed, and is witnessing, problems, some of which have been overcome and others which can be overcome. There are other problems under study. In such a climate, is it not right to call for greater solidarity among GCC countries, and even among all Arab countries? If we do not have solidarity, it will be easy for others to exploit us or we will be subjected to terms of agendas of some powers, and the world will overwhelm the weak. Arabs should learn from past experiences and look to the future with full responsibility. Although we aspire too much from the GCC, Arabs can take a leaf from the book of the performance of the GCC countries during the past thirty years. The Gulf states have the natural right to be in solidarity to the optimum level to be an effective power and not to be exploited by anyone.
I was frank with the GCC leaders in the recent summit in Kuwait when I said that the Kingdom and its leaders seek the good interest of GCC countries, and we want to see solidarity and unity. We felt satisfaction with the solidarity expressed by GCC leaders at the beginning of the summit meeting when they announced their full support for the Kingdom of Saudi Arabia in its confrontation with infiltrators on our borders.
Here it must be noted that this small group of infiltrators is not the real evil that we are fighting against. The question is who is the real power that drives this small group? The fact of the matter is known, and its targets are known, as well as why it is in this part of our country.
Q: As regards infiltration into the territory of the Kingdom, do you re-assure the people of the Kingdom and GCC states that all is well?
A: Praise be to Allah that victory had been completed after defeating the infiltrators. There is no longer anyone on our territory except our citizens. My instructions have been clear and explicit to our brave army that its movements should be within the territory of the Kingdom and that it should not step inside the territory of Yemen.
We have told the army to keep the infiltrators away from our territory and preserve the security and the borders of our country only. These have been my instructions. We are a state that does not interfere in the affairs of others, and does not accept that anyone interferes in our affairs. The Saudi armed forces have conducted the battle in a high level of national spirit which we all appreciate.
Q: What is the goal of the aggressors in infiltrating into the territory of the Kingdom?
A: The whole world is now aware of the evil goals that this small group tried to achieve through the infringement of the territory of the Kingdom. The land, chosen by Allah to be the country of the Two Holy Mosques, is protected by Allah and is victorious against evildoers, who create strife and unrest for evil goals. All these evil goals will be defeated wherever their owners are, whether they are groups or governments. The Kingdom which is the land of goodness and faith will remain protected by Allah and the brave Saudi armed forces that have been defending their homeland. The armed forces have defeated evil groups and continue to preserve our country and our families. Preservation of the homeland is a holy jihad (war).
It should be noted that those who sold their religion and homelands for a handful of money or for achievement of illusions, will be defeated.
We reconfirm that the Kingdom will not interfere in any country's affairs and does not accept that other states intervene in our affairs. The infiltrated group which infringed on our land has learned that the Kingdom has been strong against anyone whatever his power might be, so a rebellious group whose power has not stemmed from its own self has been defeated. We have been victorious against it.
Q: How do you foresee the Saudi economic experience for the GCC states after the financial crisis that has swept the whole world, and the quick recovery of the Saudi economy from its effects?
A: First of all, I confirm that the Saudi economy is fine, and the impact left on it by the global financial crisis has been limited. This has been normal and it did not take long for the people to be reassured about the procedures undertaken by the state in this regard.
Our budget last year was higher than the previous one in spite of the world financial crisis and this year it is better than the last year which will be reflected in the Saudi economy which is in a very excellent condition. The Kingdom has a national awareness of investment being led by the experienced government sector and a private sector skilful in the economic matters of the world. In spite of the global financial crisis, foreign investment in the Kingdom has increased over the past year.
We expected at the beginning of the year that oil prices range would between 75 and 80 US dollars per barrel, which is a fair price. The prices have conformed with our expectations. The oil prices will be firm or perhaps there will be a reasonable rise.
Q: What about your decisions on the Jeddah floods?
A: Investigations are still underway to determine who was responsible for this disaster. Yes, I have not been comfortable with what happened in Jeddah. We should be prepared to confront the floods and prevent any damage from their effects. That is the least of what should be the situation. The basic matter is that there should not be factors conducive to the occurrence of the disaster witnessed by Jeddah. We will not be lenient with anyone who has been derelict in his duty. Jeddah floods have revealed what we should do in the next days to improve the infrastructure in Jeddah and other Saudi cities.
Q: What about the purpose of launching four religious television channels by the Ministry of Culture and Information ?
A: The purpose of these stations is to educate people about the correct Islamic culture and religion revealed by Prophet Muhammad (peace be upon him). They are channels for enlightening people on correct religious education so that they will keep away from those persons who interpret verses of the Holy Qur'an and Prophet's sayings contrary to their meanings to serve their own interests.


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