President Donald Trump is preparing for his first foreign trip of his second term to Saudi Arabia in May, where he plans to sign a $1 trillion investment agreement. This visit will also address the wars in Ukraine and Gaza, and include stops in Qatar and the UAE. Saudi Arabia aims to expand investment and trade with the U.S. by $600 billion over the next four years, involving public and private sector initiatives.
U.S. President Donald Trump is planning his first foreign trip for his second term to Saudi Arabia, anticipated for mid-May, where he intends to sign an investment agreement. This visit will also include stops in Qatar and the UAE, echoing his inaugural trip in 2017 when he first visited Saudi Arabia. Trump indicated, “It could be next month, maybe a little later.”
The proposed investment agreement, worth approximately $1 trillion, aims to enhance the U.S. economy, especially through military equipment purchases. Similar agreements are expected in Qatar and the UAE. Trump remarked, “Tremendous jobs will be created in those two or three days” during this visit. Additionally, discussions concerning the ongoing wars in Ukraine and Gaza will form part of his agenda in Saudi Arabia.
Crown Prince Mohammed bin Salman has reaffirmed Saudi Arabia’s commitment to increasing investment and trade ties with the U.S., aiming for $600 billion over the next four years, as discussed during a recent phone call with Trump. This commitment includes bolstering cooperation to achieve peace and security in the Middle East, as well as combating terrorism.
In a move reminiscent of his first term, Trump previously suggested making Saudi Arabia the destination for his first foreign trip, contingent on substantial purchases of U.S. products. In his initial visit, the two nations signed investment agreements totaling $400 billion, indicating a thriving bilateral relationship.
Minister of Economy and Planning, Faisal Alibrahim, highlighted that the $600 billion investment pledged by Saudi Arabia would involve both public and private sectors. He emphasized, “This number represents investments, procurement, public and private sector, and it’s just a mirror reflection of the strong relationship.” Alibrahim also noted that the overall spending in the Saudi economy from the start of Vision 2030 through to 2030 will be significantly greater than this figure.
President Trump’s upcoming visit to Saudi Arabia is poised to solidify U.S.-Saudi relations through substantial investment agreements. With discussions planned on major geopolitical issues, this trip underscores the strategic partnership between the two nations. The pledged $600 billion in investment reflects Saudi Arabia’s commitment, emphasizing robust public and private sector collaboration for future economic growth.
Original Source: economymiddleeast.com
