Southeast Asia Information Port (www.dnyxxg.com) – The United States and Saudi Arabia announced investment agreements worth hundreds of billions of dollars on Wednesday (November 19). The two countries are touting these business deals as part of a $1 trillion investment plan in the US announced by Saudi Crown Prince Mohammed bin Salman.
Speaking at the US-Saudi Investment Forum, Donald Trump said that companies from both countries have signed agreements worth $270 billion, covering aerospace, energy, and technology.
Trump said that under the contracts signed this week, General Electric Aerospace will deliver “new aircraft engines for dozens of 787 Dreamliners” to Saudi Arabia.
“Every new job and every new factory created by these announced orders will strengthen our middle class. It will truly strengthen the pillars of American industry.”
These deals are part of a $1 trillion investment plan announced Tuesday by Saudi Crown Prince Mohammed bin Salman, who is visiting the US and receiving a reception from Trump.
Trump also stated that the two countries signed "groundbreaking agreements on civilian nuclear energy, critical minerals, and artificial intelligence."
"Under the agreements signed this week, the world's two largest energy superpowers—the United States and Saudi Arabia—are cooperating in energy in an unprecedented way. The American and Saudi companies present today are working together in areas such as liquefied natural gas and infrastructure construction, making our energy sector so strong," he said.
"Under the Trump administration, America is back—and America is open to investment," Trump told business leaders and investors at the U.S.-Saudi Investment Forum at the Kennedy Center on Wednesday.
Mohammed bin Salman stated that the two countries have laid the foundation for a partnership based on growth, economic diversification, and innovation, and that they signed a document on a strategic economic partnership.
"Today, in this historic step to consolidate our economic cooperation, we are pleased to sign investment agreements and projects covering areas such as defense, energy, artificial intelligence, rare minerals, and finance. This will help create numerous jobs for both our countries and boost economic growth," Salman said through a translator.
Trump also announced that the United States has designated the Kingdom of Saudi Arabia as a key non-NATO ally. “This is significant… We will be selling some of the most advanced military equipment ever to Saudi Arabia… This includes nearly 300 American-made tanks… This is very rare… It’s a sign of trust,” he said.
“The partnership between our two countries is one of the most important in the world, and the Crown Prince and I are working together to make our alliance stronger and more powerful than ever before.”
The Office of the U.S. Trade Representative said that in 2024, total trade in goods and services between the United States and Saudi Arabia was approximately $39.5 billion, a 7.6% decrease from 2023, to approximately $3.3 billion.
