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leaders: none International organization participation: ABEDA, AfDB, AFESD, AMF, BIS, FAO, G-77, GCC, IAEA, IBRD, ICAO, ICC, ICRM, IDA, IDB, IFAD, IFC, IFRCS, ILO, IMF, IMO, Interpol, IOC, ISO, ITU, LAS, MIGA, NAM, OAPEC, OAS (observer), OIC, OPCW, OPEC, PCA, UN, UNCTAD, UNESCO, UNIDO, UPU, WCO, WFTU, WHO, WIPO, WMO, WToO, WTO (observer) Diplomatic representation in the US: chief of mission: Ambassador Turki al-Faysal bin Abd al-Aziz Al Saud chancery: 601 New Hampshire Avenue NW, Washington, DC 20037 telephone: [1] (202) 342-3800 consulate(s) general: Houston, Los Angeles, and New York Diplomatic representation from the US: chief of mission: Ambassador James Curtis OBERWETTER embassy: Collector Road M, Diplomatic Quarter, Riyadh mailing address: American Embassy Riyadh, Unit 61307, APO AE 09803-1307; International Mail: P. O. Box 94309, Riyadh 11693 telephone: [966] (1) 488-3800 FAX: [966] (1) 488-3989 consulate(s) general: Dhahran, Jiddah (Jeddah) Flag description: green, a traditional color in Islamic flags, with the Shahada or Muslim creed in large white Arabic script (translated as "There is no god but God; Muhammad is the Messenger of God") above a white horizontal saber (the tip points to the hoist side); design dates to the early twentieth century and is closely associated with the Al Saud family which established the kingdom in 1932 Economy Saudi Arabia Economy - overview: This is an oil-based economy with strong government controls over major economic activities. Saudi Arabia possesses 25% of the world's proven petroleum reserves, ranks as the largest exporter of petroleum, and plays a leading role in OPEC. The petroleum sector accounts for roughly 75% of budget revenues, 45% of GDP, and 90% of export earnings. About 40% of GDP comes from the private sector. Roughly five and a half million foreign workers play an important role in the Saudi economy, for example, in the oil and service sectors. The government in 1999 announced plans to begin privatizing the electricity companies, which follows the ongoing privatization of the telecommunications company. The government is encouraging private sector growth to lessen the kingdom's dependence on oil and increase employment opportunities for the swelling Saudi population. Priorities for government spending in the short term include additional funds for education and for
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