Saudi Minister of Economy and Planning Khalid Al-Quseibi has hailed the Saudi development experience, and said it stands as an outstanding and distinguished example in the Middle East and the Arab world. Al-Quseibi is currently visiting Cairo to lead the Saudi delegation to the meetings of the Arab Ministers of Housing.
Speaking at a lecture here last night, Al-Quseiibi estimated the Saudi Gross National Product (GNP) at about SR 932 billion. He noted that the Kingdom of Saudi Arabia constitutes an important source for providing oil to the world.
Al-Quseiibi noted that the Arab Gulf Cooperation Council (GCC) is about to accomplish a customs union and is working towards realization of the currency unification by 2010.
He also said the length of the paved roads in the Kingdom jumped from only 8,000 kilometers in 1970 to 51,000 kilometers in 2004, while the number of the wharves jumped from 27 in 1975 to 183 in 2004. Al-Quseibi pointed out that the industrial cities of Jubail and Yanbu stand as a witness for the current great economic growth in the Kingdom.
