RIYADH, 17 December 2007 — Saudi Arabia and Spain are set to exchange security information regarding their efforts in the war against terror and exchange training programs between the security bodies of the two countries as a result of bolstering political and economic relations, a reliable source told Arab News yesterday.

In addition, a fund worth 5 billion euros, considered to be “seed money” for potential areas of investments between the two countries, was established as a result of an official visit of Custodian of the Two Holy Mosques King Abdullah to Spain last June, and King Juan Carlos’ visit to the Kingdom last year.

An official high delegation consisting of four members of the Spanish Interior Ministry recently visited the Kingdom to follow up on the issues agreed upon in Madrid between the two sides.

The members consisted of General Director Fernandez Chico, General Commissioner Valverde, Director of Foreign Operations Garcia Castano, and Director of the Middle East Villarejo. The members met with Prince Abdulrahman ibn Abdul Aziz, deputy minister of defense and aviation.

They also met with Prince Ahmed, deputy minister of interior. The delegation presented both princes with the Police Staff of Command medals. They also extended an official invitation to Interior Minister Prince Naif to visit Spain in the near future.

The Council of Ministers, headed by King Abdullah, issued a royal decree regarding the agreements signed between the two countries two days after the delegation completed its visit to the Kingdom on Nov. 27. Among the many agreements signed between the two countries was an MOU to avoid double taxation, as well as another agreement between Saudi Arabia and Spain.

Commenting on the security agreement, the source mentioned that the agreement would be followed by official visits from delegations to later discuss training pacts. “A series of visits from from both countries will take place,” he said.

Saudi Arabia and Spain have enjoyed strong cultural, political, economical and bilateral ties in the past. “The relations between Saudi Arabia and Spain should be very special,” the source, who was among the Saudi negotiating team, told Arab News.

“Both kingdoms share cultural and political ties,” he said, adding that Spain has always been a pro-Arab European country which has advocated the Palestinian cause and shared values with the Arab world.

The source mentioned the strong relations between King Abdullah and King Juan Carlos. “King Juan Carlos broke the protocol during King Abdullah’s state visit to Spain to show his appreciation and to accommodate the special status between them,” he said, adding that Spain was a bridge between the Arab world and Europe with historic ties going back to 500 years.