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"One can imagine not just economic, political and diplomatic relations between Arabs and Israelis but also issues of education, scientific research, combating mutual threats to the inhabitants of this vast geographic area"

"MHO this is a ploy to counter perceived Persian hegemony which scares the mohammed out of the Saudi's et al"

Bingo! You are the first one to get it. The Saudis are driving all the recent events in the middle east. And if they have to make deal with the Israelis to save the Kingdom from the Khomeiniacs they will do it. Imagine that, it will be the Israelis who have the Saudis' back in this conflict. It is a very strange world we live in. Well, maybe not so strange when you think about it.