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Sen. Carrick Overseas visit- Saudi Arabia

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'mam* PRESS STATEMENT by the Minister for National Development and Energy 82/1

The following Statement was released in Riyadh, Saudi

Arabia, 10 January 1982:

The Australian Minister for National Development and Energy,

Senator Garrick, said today there was considerable potential for the development of closer ties, between Australia and Saudi Arabia. .

The Minister was commenting following discussions with the Saudi Arabian Minister of Petroleum and Mineral

Resources, Sheikh Ahmed Zaki Yamani, Sheikh Mohammed Aba

Al-Khail, Minister of Finance and National Economy, and

Government officials during his visit to Saudi Arabia

on 4-9 January. . .

The Minister said that Saudi Arabia's intention to achieve

stability in the international oil market was important for economic recovery. Such stability would provide

useful benefits for both oil importers and exporters and would facilitate an improvement in world trade with

the attendant benefits that would bring to both developed and developing countries.

Senator Garrick reiterated the view expressed after the recent IEA Governing Board meeting that price stability

did not mean oil consuming countries could be complacent. Countries were urged to increase their conservation and oil switching efforts so as to avoid a recurrence of

the events of 1978/79. While the outlook for most of 1982 is for a continuation of the existing subdued economic

activity currently being experienced by OECD countries

as a whole, Senator Garrick said the need for conservation

and switching measures is important in the light of the

recovery expected towards the end of 1982 and 1983

and the effect that might have on oil consumption.

Senator Garrick said that in addition to Saudi Arabia's

importance as an oil supplier and growing market for

Australian products, Saudia Arabia also has considerable

attraction for Australian consultants and contractors - not merely because of the scale and pace of development

in this area, but also because of similarities in environmental factors affecting economic development in Saudi Arabia and Australia. . .

Broad areas of Australian expertise that are relevant to

Saudi Arabia include agriculture, horticulture, meteorology, minerals exploration and development, and mapping.

Following the recent Australian Minerals Co-operation

Mission to Saudi Arabia the Bureau of Mineral Resources

and the South Australian Geological Survey have agreed to take five Saudi geologists for 4-5 months training in

field mapping in Precambrian areas. This is expected to pommence in July 1982. ' .

Canberra 11 January 1982

Contact': Mr P. Ryan . ;45 8343 (work)

; 4 7 7 4 4 7 (home)