"The Kingdom also affirms that if it receives any action, it will respond with greater action, and that the Kingdom's economy has an influential and vital role in the global economy".
Khashoggi, a USA resident who writes columns for the Washington Post, disappeared on 2 October after visiting the consulate.
This image taken from CCTV video obtained by the Turkish newspaper Hurriyet and made available on Oct. 9, 2018 claims to show Saudi journalist Jamal Khashoggi entering the Saudi consulate in Istanbul, Oct. 2, 2018.
"Human rights, freedom of information are essential rights and horrifying things have been reported and I am horrified", she told reporters in Bali where the International Monetary Fund is holding annual meetings.
Saudi Arabia denies any involvement in his disappearance.
Diplomatic sources told the BBC's James Landale that both US Treasury Secretary Steve Mnuchin and UK International Trade Secretary Liam Fox might not attend next month's investment conference in Riyadh, which has been dubbed "Davos in the Desert".
The statement, which was published by the PA president's office, quoted Abbas as saying he has "absolute confidence" in Saudi Arabia's King Salman bin Abdulaziz Al Saud and his Crown Prince, Mohammed bin Salman.
His remarks came a day after US President Donald Trump told CBS that Washington is poised "to get to the bottom" of Khashoggi's disappearance.
The Saudi minister, in the first ministerial reaction to the accusations about Khashoggi´s killing, said he welcomed the cooperation between his country and Turkey to clarify the circumstances of the disappearance.
Saudi Arabia has offered no explanation for how the writer left the consulate and disappeared into Istanbul as his fiancée stood outside waiting for him.
"There's a lot at stake".
Despite the assurances from the White House that it will take a hardline toward the Saudis if it's revealed that they were involved in Khashoggi's disappearance and possible death, critics of the Trump administration question how the president's previous business dealings with the country will affect his response.
On Thursday, Trump had said U.S. relations with Saudi Arabia were "excellent" and that he doesn't want to scuttle highly lucrative arms deals with Riyadh.
They said: 'Defending freedom of expression and a free press and ensuring the protection of journalists are key priorities for Germany, the United Kingdom and France. Those policies are all seen as initiatives of the crown prince. Trump promised to personally call Saudi Arabia's King Salman soon about "the awful situation in Turkey".
"If US sanctions are imposed on Saudi Arabia, we will be facing an economic disaster that would rock the entire world", he added.
Marco Rubio and Jeff Flake, members of the Foreign Relations Committee, said Congress was prepared to move quickly and firmly if President Donald Trump failed to adequately respond to the October 2 disappearance of Khashoggi, a Washington Post contributor.