Meeting With Prince Saud of Saudi Arabia White House Statement Issued Following the Meeting Between the President and the Foreign Minister.

The President and Saudi Arabian Foreign Minister, His Royal Highness Prince Saud, met in the Cabinet Room this morning for 1 hour and 30 minutes. The President was accompanied by Vice President Walter Mondale, Secretary of State Cyrus Vance, Deputy Assistant for National Security Affairs David L. Aaron, Counsel to the President Robert J. Lipshutz, Assistant to the President Hamilton Jordan, Assistant Secretary of State for Near Eastern and South Asian Affairs Alfred L. Atherton, U.S. Ambassador to Saudi Arabia John West, and National Security Staff member William Quandt; and Prince Saud by Ambassador Ali Alireza, Deputy Prime Minister for Foreign Affairs Sheikh Abdullah Alireza, Ambassador Ahmed Siraj of the Ministry of Foreign Affairs, and First Secretary of the Saudi Arabia Embassy Dr. Nazar Madani.

The President began by expressing his pleasure at this opportunity to discuss with Prince Saud the wide range of ties which unite Saudi Arabia and the United States in friendship. The President asked the Foreign Minister to convey his personal best wishes to His Majesty King Khalid in anticipation of the meeting he will be having with His Majesty and His Royal Highness Prince Fahd next month in Saudi Arabia.

The President and Prince Saud spent a good deal of their time today reviewing the current efforts to resume negotiations on a settlement of the Middle East conflict. The President informed the Foreign Minister of the results of previous meetings he has had over the past few weeks with foreign ministers of the governments involved. The President reaffirmed his determination to help these parties to the conflict work out procedures for reconvening the Geneva conference by the end of the year. The President expressed his conviction that differences over procedure should not be permitted to prevent negotiations on the substance of the conflict which all the parties have said they desire. As he has in his other meetings, the President repeated his own conviction that a just and lasting peace in this vital area of the world requires compromise and courageous leadership from all concerned. He thanked Prince Saud for the understanding and support Saudi Arabia has shown for the efforts to advance the prospects for an early resumption of peace negotiations. Secretary Vance will pursue the discussion with the Minister, listening to his ideas and explaining in detail suggestions for reconciling differences between the parties.

The President and Prince Saud also discussed a number of matters of mutual interest pertaining both to our bilateral relations and to the challenges facing the international community. In particular, the President emphasized to the Foreign Minister his determination to obtain the comprehensive energy conservation program which is currently before Congress. He expressed again his appreciation of the policy which Saudi Arabia, the world's largest oil exporter, has pursued in petroleum production and pricing.

The President emphasized the importance to the international community of maintaining world oil price stability over the coming year. The President and Prince Saud noted with satisfaction that the economic ties between the United States and Saudi Arabia continue to expand, and that the close cooperation and consultation between the two Governments in international finance and development lending remain a major contribution to world economic growth.

The President assured the Foreign Minister that the United States intends to continue its role in helping Saudi Arabia meet legitimate defense needs.