WASHINGTON, JAN 23, SPA -- WARNING AGAINST THE CONTINUATION OF THE UNSTABLE SITUATION IN IRAQ, PRINCE TURKI AL-FAISAL, THE SAUDI AMBASSADOR TO THE US, SAID THE DETERIORATING SITUATION IN IRAQ CONSTITUTES A SERIOUS CHALLENGE TO THE REGIONAL AND GLOBAL STABILITY. SPEAKING AT GEORGE WASHINGTON UNIVERSITY HERE LAST NIGHT, PRINCE TURKI SAID THE KINGDOM OF SAUDI ARABIA AND ITS FRIENDS, NOTABLY THE US, HAVE BEEN EXERTING EFFORTS TO REACH A SOLUTION FOR THE IRAQI PROBLEM. HE POINTED OUT TO THE VISIT RECENTLY PAID TO THE KINGDOM BY US STATE SECRETARY CONDOLEEZZA RICE, AND AFFIRMED THE KEENNESS OF THE KINGDOM ON EXTENDING ASSISTANCE TO THE IRAQI PEOPLE AND PRESERVING IRAQ'S UNITY, SOVEREIGNTY AND SAFETY. ON THE OTHER HAND, PRINCE TURKI SAID THE KINGDOM HAS BEEN GIVING UTMOST ATTENTION TO THE HUMAN DEVELOPMENT AND TO IMPROVING THE STANDARD OF LIVING OF THE SAUDI CITIZENS. MOREOVER, HE REITERATED THE KEENNESS OF THE KINGDOM ON DIVERSIFYING ITS SOURCES OF INCOME AND OPENING DOORS FOR THE FOREIGN INVESTMENTS. HIGHLIGHTING THE ADMISSION OF THE KINGDOM OF SAUDI ARABIA TO THE WORLD TRADE ORGANIZATION (WTO), PRINCE TURKI SAID A REPORT ISSUED BY THE WORLD BANK DESCRIBED THE BUSINESS ATMOSPHERE IN SAUDI ARABIA AS THE BEST OF ITS KIND IN THE MIDDLE EAST REGION.'THERE ARE GREAT OPPORTUNITIES FOR INVESTMENT IN SAUDI ARABIA IN THE SECTORS OF INFORMATION TECHNOLOGY, MINING AND TOURISM', HE SAID. HE NOTED THAT EFFORTS ARE UNDERWAY TO PRIVATIZE SOME ESTABLISHMENTS OWNED BY THE STATE LIKE THE SAUDI ARABIAN AIRLINES (SAA). MOREOVER, HE SAID ARRANGEMENTS ARE UNDERWAY TO ESTABLISH COMMERCIAL AND FINANCIAL CENTERS IN THE KINGDOM LIKE KING ABDULLAH ECONOMIC CITY IN RABIGH AT A TOTAL COST OF $26 BILLION. UNDERLINING THE ATTENTION GIVEN BY THE KINGDOM TO THE EDUCATIONAL SECTOR, PRINCE TURKI SAID THE SAUDI STUDENTS WHO ARE STUDYING IN THE US HAVE BEEN POSITIVELY CONTRIBUTING TO ENHANCING UNDERSTANDING BETWEEN THE KINGDOM AND THE US, AND ADDED 'THEY ARE THE AMBASSADORS OF THEIR COUNTRY TO THE US'. PRINCE TURKI EXPRESSED SATISFACTION OVER THE FOSTERING SAUDI-AMERICAN RELATIONS, AND SAID COOPERATION BETWEEN THE TWO COUNTRIES WILL YIELD POSITIVE RESULTS. ON THE SITUATION IN IRAQ, PRINCE TURKI EMPHASIZED THE OPPOSITION OF THE KINGDOM TO THE FOREIGN INTERVENTION IN IRAQ. THE MEETING WAS ATTENDED BY A NUMBER OF MEMBERS OF THE ACADEMIC STAFF AND STUDENTS OF GEORGE WASHINGTON UNIVERSITY AS WELL AS A NUMBER OF RESEARCHERS AT THE DEPARTMENTS OF POLITICAL SCIENCES.--SPA www.spa.gov.sa/420177