Speaking at the annual Arab summit in the eastern Saudi city of Dhahran, the Saudi monarch also offered $50 million in aid to the United Nations refugee agency UNRWA.
UN Secretary General Antonio Guterres, AL Secretary General Ahmed Aboul-Gheit and Chairman of the African Union Commission Moussa Faki and High Representative of the European Union for Foreign Affairs and Security Policy Federica Mogherini are also participating in the one-day summit.
King Abdullah II bin Al-Hussain of the Hashemite Kingdom of Jordan, the President of the previous Arab League Summit, delivered a speech in which he expressed his thanks to King Salman bin Abdulaziz for the warm reception and generous hospitality.
Regional powerhouses Saudi Arabia and Iran have been locked in a decades-long struggle for supremacy that is being waged in proxy wars in several countries, including Yemen and Syria.
This comes as the Saudi government is seeking to make Arab League member states align themselves with Riyadh when it comes to anti-Iran measures.
On Dec. 6, 2017, Trump announced his official recognition of Jerusalem as Israel's capital and instructed the relocation of the US embassy from Tel Aviv to the disputed holy city, which promptly triggered fury and condemnation throughout the Arab world.
King Salman said Saudi Arabia was donating $200 million to support the Palestinians, including $50 million for the U.N. Relief and Works Agency (UNRWA).
On Saturday, the umbrella Arab League said the summit will not discuss Gulf crisis, which was triggered by last year's cut-off of diplomatic ties between four Arab states and Qatar amid accusations for Doha of supporting terrorism.
In a ministerial meeting held on Thursday, Jubeir said that the Plaestinian issue will be a top discussion at the summit.