Memorandum of understanding subscribed by Venezuela and Saudi Arabia

Published September 28th, 2000 - 02:00 GMT

Press releases  

Caracas, 27 September 2000 (Press Office of the II OPEC Summit). 

A memorandum of understanding on bilateral consultations was subscribed this Wednesday by the Venezuelan and Saudi Arabian ministers of Foreign Relations, José Vicente Rangel and Prince Saud Al-Faisal, respectively. 

The first of the document's four articles establishes that the parties will carry out regular consultations to follow up all aspects of their bilateral relations and interchanges of points of view on regional and world issues of common interest, that will cover matters related to bilateral relations at all levels, especially those in the fields of politics, science and cultural cooperation.  

The second article deals with the consultations covered by this framework of understanding, which are to be held once a year, alternately at Caracas and Riyadh, by the Ministers of Foreign Relations, Vice Ministers, Directors General of related matters, or high-level representatives of both ministries. 

The third article stipulates that the date and agenda for these consultations will be determined by mutual agreement through diplomatic channels, while the fourth article refers to the fact that the document will become effective at the moment of its signing, and will remain in force unless one of the parties notifies the other in writing, with at least six-month's anticipation, of its intention to finalize the Memorandum of Understanding. 

Source:OPEC/press releases 

© 2000 Mena Report (www.menareport.com)

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