AT THE SAME TIME, AN AGREEMENT WAS SIGNED FOR ENCOURAGING AND PROTECTING INVESTMENTS BETWEEN THE TWO COUNTRIES. ON THE SAUDI SIDE, THE AGREEMENT WAS SIGNED BY GOVERNOR OF THE SAUDI ARABIAN GENERAL INVESTMENT AUTHORITY (SAGIA) OMAR AL-DABBAGH, WHILE ON THE SPANISH SIDE IT WAS SIGNED BY ITS MINISTER OF INDUSTRY, TOURISM AND TRADE GOSE MOTILLA IGUILARA. SAUDI ARABIA AND SPAIN ARE KEEN ON ENHANCING THE PILLARS OF PEACE IN THE MIDDLE EAST. PRINCE SAUD AL-FAISAL, THE FOREIGN MINISTER WAS QUOTED AS SAYING MADRID PEACE CONFERENCE HAD LAID BASES FOR THE PEACE IN THE REGION ON THE PEACE-FOR-LAND PRINCIPLE AND THE RESOLUTIONS OF THE INTERNATIONAL LEGITIMACY. HE NOTED THAT RIYADH HAS PRESENTED THE ARAB PEACE INITIATIVE ON THE PRINCIPLE OF ISRAELI WITHDRAWAL FROM ALL TERRITORIES IN RETURN OF A COMPREHENSIVE PEACE.--MORE www.spa.gov.sa/459813