RIYADH — The Cabinet, chaired by Custodian of the Two Holy Mosques King Salman in Riyadh Tuesday, approved the regulation of the Supreme Space Council.

The Supreme Space Council, headed by Crown Prince and Prime Minister Mohammed Bin Salman, was established due to the strategic importance of the space sector, which represents the next trillion global economy and the main engine to stimulate innovation and inspire future generations

The Cabinet was briefed on the recent talks held by the Kingdom with several countries, including the message Crown Prince Mohammed received from the Costa Rican president concerning ties between the two countries and ways to develop them.

The Cabinet also discussed the latest regional and international developments. It emphasized the need for the international community to take further action to bring about a ceasefire in Gaza Strip, to provide protection for the Palestinian people, and to hold the Israeli occupation forces accountable for their constant violation of international law and international humanitarian law.

The Cabinet reaffirmed the Kingdom's commitment to pursuing and promoting peace, and to lending support to initiatives that contribute to regional security and stability.

Minister of Media Salman Bin Yousef Al-Dosari said in a statement to the Saudi Press Agency that the Cabinet discussed measures to develop vital and promising sectors, in line with the Vision 2030 goals, with a focus placed on boosting the Kingdom's global leadership and standing, and advancing the implementation of the National Biotechnology Strategy, which aims to strengthen national health care, further improve the quality of life, protect the environment, achieve food and water security, maximize economic opportunities, and promote local manufacturing.

The Cabinet reaffirmed the Kingdom's commitment to developing the housing and real estate sector, improving its efficiency and boosting its contribution to the GDP. In this regard, the Cabinet commended the ambitious vision presented at the Real Estate Future Forum, which attracted a global audience.

The many agreements signed at the event are an indication of a promising future for this sector whose efforts align with the national objectives.

The Cabinet authorized the minister of energy to discuss and sign with the Chinese side a draft memorandum of understanding annexed to a protocol for cooperation in the oil, gas and minerals sectors.

It approved a memorandum of understanding for cooperation between the Saudi Ministry of Sport and the Presidency of the Council of Ministers of the Portuguese Republic in the field of sports.

The Cabinet approved the protocol annexed to the Agreement on the Formation of the High-Level Joint Committee by Saudi Arabia and of China.

It authorized the minister of foreign affairs to discuss and sign with the Islamic Military Counter-Terrorism Coalition (IMCTC) a draft headquarters agreement between Saudi Arabia and IMCTC.

The Cabinet authorized the minister of environment, water and agriculture to hold talks and sign a draft memorandum of understanding with the Environment and Ecology Bureau of the government of Hong Kong, a special administrative region of China, in the field environment.

It authorized the minister of investment to hold talks with the Serbian counterpart and sign a draft memorandum of understanding for cooperation to stimulate direct investment.

The Cabinet approved the Ministry of Transport and Logistic Services' joining the International Transport Forum. It also approved an economic cooperation agreement between the government of Saudi Arabia and Latvia.

The Cabinet authorized the minister of economy and planning to hold talks with the General Secretariat of the Supreme Council for Planning and Development of Kuwait on, and sign, a draft memorandum of understanding in the field of economy and planning.

It approved the general reference agreement the government of Saudi Arabia reaches with governments of other countries to exchange information on issues pertaining to taxes, and authorizing the minister of finance and chairman of the Zakat, Tax and Customs Authority to hold talks with other countries' counterparts, and sign, draft agreements to exchange information related to this field. — SPA