Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, welcomed the visiting dignitary.
Prince Mohammed arrived at the Presidential Airport in Abu Dhabi in the evening on an official two-day visit to the Emirates.
Sheikh Mohamed and Prince Mohammed later held talks at Qasr Al Watan in Abu Dhabi, where they discussed ties between their two countries and opportunities to strengthen them.
Sheikh Mohamed spoke about the strong relations between the UAE and Saudi Arabia.
"Thanks to the efforts of the late Sheikh Zayed bin Sultan Al Nahyan and his brothers the Kings of Saudi Arabia, and the stances of His Highness the President and his brother the Custodian of the Two Holy Mosques, the excellent relations between our countries keep growing stronger as they are founded on fraternity, history, geography and common interests," said Sheikh Mohamed, in a statement released on Wam.
"Saudi Arabia has been, and will always be a key regional player. We are confident that together, we will be able to confront all challenges in the region and to maintain our common interests and the welfare of our peoples," he added.
The pair discussed the importance of boosting joint GCC and Arab action, as well as regional and international issues of interest.
They also spoke about the need to strengthen regional stability, a key pillar for development and progress, according to the statement.
Sheikh Mohamed hosted a dinner banquet in honour of Prince Mohammed and his delegation at the palace.
The Saudi crown prince spent the previous 24 hours in Oman, where he held talks with Sultan Haitham.
Sheikh Mohamed was accompanied by a high-level entourage of top officials to welcome Prince Mohammed to the UAE.
Prince Mohammed is currently on a tour of the five members of the Gulf Co-operation Council – Oman, the UAE, Bahrain, Qatar and Kuwait.
It will be his first visit to Qatar since the AlUla summit in January ended a rift in the GCC and re-established ties between Doha and Saudi Arabia, the UAE and Bahrain.
State media in Saudi Arabia said the tour would be focused on ways to enhance co-ordination between GCC states and measures to strengthen the work of the regional body before the leaders’ summit in mid-December.