In a significant development, Saudi Arabia and the United States are on the verge of finalizing bilateral agreements on defense and security cooperation. The Saudi Foreign Minister, Faisal bin Farhan, stated on Monday that these agreements were "very, very close" as Riyadh aims to establish normalized relations with Israel in exchange for the pacts.

Speaking at a special meeting of the World Economic Forum in Riyadh, Minister Farhan asserted that most of the work regarding the agreements had already been completed. He emphasized that for these pacts to succeed, there must be a clear pathway towards the creation of a Palestinian state.

Echoing these sentiments, US Secretary of State Antony Blinken also affirmed that a US-Saudi security pact was nearing completion. During a panel discussion at the World Economic Forum, Blinken expressed optimism, saying, "The work that Saudi Arabia and the United States have been doing together in terms of our own agreements, I think, is potentially very close to completion." However, he stressed that a calm situation in Gaza and a credible pathway towards a Palestinian state were essential for the normalization of relations.

Secretary Blinken's visit to Saudi Arabia is part of a regional tour that will also include stops in Jordan and Israel. His visit aims to achieve a cease-fire in the Gaza Strip and secure the release of hostages held by Hamas. Discussions with regional leaders will also focus on pursuing peace and security through the establishment of an independent Palestinian state, alongside security guarantees for Israel.

Earlier on Monday, Blinken and Minister Farhan met in Riyadh on the sidelines of a gathering of the foreign ministers of the Gulf Cooperation Council. They discussed the latest developments in Gaza and emphasized the urgent need for a cease-fire and the delivery of humanitarian aid to the area.

This progress comes after the temporary suspension of discussions on the US-led talks due to the Israel-Hamas conflict that erupted in October. Saudi Arabia had previously linked the establishment of diplomatic ties with Israel to a US-Saudi defense agreement, which would involve American military support in case of an attack on Saudi territory. Additionally, the kingdom sought a deal for US backing of its civilian nuclear program and domestic uranium enrichment.

Since the resumption of negotiations in January, Saudi officials have consistently stated that the establishment of diplomatic ties with Israel hinges upon the creation of an independent Palestinian state based on the 1967 borders.

As the Saudi-US defense and security pacts approach their final stages, the world awaits further developments that could have substantial implications for the Middle East region.