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KSA, USA sign $280bn deals during Trump’s visit to Riyadh

KSA, USA sign $280bn deals during Trump’s visit to Riyadh
Photo Credit: Arabianeye-Reuters

Riyadh - Mubasher: The summit between King Salman of Saudi Arabia and the President of the United States Donald Trump saw the signing of a strategic partnership, as well as $280 billion (SAR 1.05 trillion) worth of business agreements.

King Salman and Trump signed a number of energy, petrochemical, commercial, and military arms deals, Al Arabiya reported.

The visit also saw Saudi Aramco, the world’s largest oil company, sign a petrochemicals investment agreement to establish a new factory for producing ethylene in the US, as well as another agreement to apply Predix software in the healthcare system.

Deals were also signed with General Electric (GE), which announced inking agreements and memorandums of understanding (MoU) worth $15 billion (SAR 56.25 billion), including $7 billion (SAR 26.25 billion) to provide sell provide its own goods merchandise to the KSA.

On Saturday, Trump arrived to Saudi Arabia, in a two-day visit, which is his first international trip since taking office in January.