The Cabinet also commended the approval by leaders of the Group of 20 of the establishment of a council for world financial stability—it membership includes the kingdom— with mechanisms boosting its tasks in cooperation with the International Monetary Fund to provide early warning of economic and financial threats and ways of confronting them. The Minister of Culture and Information said the Cabinet listened to a report by the Minister of Commerce and Industry on the 17th Arab economic forum held in Beirut on Thursday during which the kingdom stressed the need for confronting the economic crisis and world economic recession by the Arab world through greater cooperation and coordination to alleviate its negative effects and through a number of measures including activation of existing mechanisms and serious endeavors to activate the greater Arab free trade zone and removing obstacles and difficulties hampering trade. The Cabinet stressed the importance of the international conference on the industries of the Nanotechnology which began here yesterday, pointing out the importance of this technology in the industry of the future as a development and economic resource and a source of income diversification and provision of more quality job opportunities for the youth. The Cabinet expressed hope that the Nanotechnology, enjoying the full support of Custodian of the Two Holy Mosques, will achieve esteemed scientific achievements for the kingdom in world forums. Dr. Khojah said the Cabinet reviewed its agenda and authorized the Second Deputy Premier, Minister of Interior—or his deputy— to discuss with both the Portuguese and Swedish sides a draft cooperation agreement in the field of fighting crime between the kingdom and both Portugal and Sweden. More
