Saudi Arabia - United States Signs Agreement Worth More Than 300 Billion US Dollars
JAKARTA - The United States and Saudi Arabia signed a deal of more than 300 billion US dollars, when President Donald Trump met Saudi Arabia's Crown Prince Mohammed bin Salman (MBS).
That was revealed by Prince MBS at the Saudi Arabia-US Investment Forum in Riyadh on Tuesday.
In his speech at the event, Prince MBS revealed the Kingdom of Saudi Arabia was considering investment opportunities worth 600 billion US dollars, adding he hoped this would increase to 1 trillion US dollars, quoted from Arab News May 14.
He noted that Uncle Sam's country is one of the largest partners on the Saudi Vision reform agenda 2030, adding that joint investment is one of the most important pillars of economic relations between the two countries.
"The US is the main goal of the Public Investment Fund, which covers about 40 percent of the global investment in the fund," said Prince MBS.
He also said cooperation with Washington was not limited to economic cooperation, but was also expanded to "Build peace in the region and the world."
On the occasion of asthma, President Trump praised the ongoing transformation in Saudi Arabia, considering it the result of the leadership of King Salman and Crown Prince.
President Trump appointed Riyadh's revival as a global business hub and noted that Saudi Arabia's non-oil and oil sector revenue has now surpassed the oil sector's revenue.
On this occasion, President Trump also praised Saudi Arabia's role in the Russia-Ukraine peace negotiations and affirmed US support for the Kingdom.
The partnership includes signing a Memorandum of Understanding in the energy, mining and defense sectors. Defense cooperation between the two countries centers on modernizing the capabilities of the Saudi armed forces, along with agreements between the Saudi Space Agency and NASA.
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Other deals include a Memorandum of Understanding on mineral resources; agreement with the Department of Justice; and cooperation on infectious diseases.
It is known that President Trump tibda in Saudi Arabia Tuesday, was part of a tour to the Middle East. He was greeted by the Crown Prince at King Khalid International Airport in the capital city of Saudi Arabia.
From Riyadh, President Trump will continue his trip to Qatar on Wednesday and the United Arab Emirates (UAE) on Thursday, as quoted by Reuters.