Saudi Arabia And United States Sign Deals Worth Over $300bn

‎Saudi Crown Prince Mohammed bin Salman has announced that the kingdom has signed agreements with the U.S. worth more than $300 billion during US President Donald Trump’s current visit.
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‎The two leaders also inked a series of bilateral agreements covering various fields, including energy and defence, on the sidelines of a Saudi-U.S. summit in the presence of Trump and bin Salman at Al-Yamamah Palace in Riyadh.
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‎The two sides signed additional agreements in the fields of energy and defence, most notably a letter of intent between the Saudi and U.S. defence ministries regarding the development and modernisation of the Saudi Armed Forces through future defence capabilities, the Saudi Al Ekhbariya channel reported.
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‎They also signed a memorandum of cooperation in the field of mining and mineral resources and a memorandum of understanding for cooperation in the energy sector.
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‎Additionally, a letter of intent was signed to enhance joint cooperation and develop requirements related to ammunition, training, support services, maintenance, and modernisation of systems and spare parts for land and air systems of the Ministry of National Guard.
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‎“Our countries share a deep economic relationship that began 92 years ago,” the Crown Prince said, emphasising that joint investments are one of the key pillars of Saudi economic ties with the U.S.
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‎He added that Saudi Arabia currently has the largest economy in the region, adding that his country “is working on partnership opportunities with the U.S. valued at $600 billion.”
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‎The Crown Prince also noted that trade volume between the two nations from 2013 to 2024 reached $500 billion.
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‎The U.S. companies account for nearly a quarter of all foreign investment in Saudi Arabia, he said.
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‎The White House said the U.S. and Saudi Arabia have signed the “largest defence sales agreement in history” worth nearly $142 billion, providing Saudi Arabia with state-of-the-art warfighting equipment and services from over a dozen US defense firms.”
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‎Trump arrived in Riyadh early on Tuesday, marking his first overseas trip since he took office in January. His itinerary also includes visits to Qatar and the United Arab Emirates (UAE).
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