Saudi Arabia plans 600 billion dollars of new US investment, trade over four years Reuters writes
(Reuters) – Saudi Arabia’s Crown Prince Mohammed bin Salman told President Donald Trump the kingdom wants to invest $600 billion in expanded investment and trade with the United States over the next four years, the Saudi state news agency reported early on Thursday.
In a phone conversation between the two leaders, the crown prince said the Trump administration’s expected reforms could create “unprecedented economic prosperity,” the state news agency reported.
The report states that Saudi Arabia wants to capitalize on its investments on these terms. He did not specify the source of the $600 billion, whether it would be public or private spending, or how the money would be distributed.
The investment “could be further increased if additional opportunities arise,” the agency quoted Bin Salman as saying to Trump.
Trump cultivated close ties with Gulf states, including Saudi Arabia, during his first term. The country invested $2 billion in a company founded by Jared Kushner, Trump’s son-in-law and former aide, after Trump left office.
Trump said after his inauguration on Monday that he would consider making Saudi Arabia his first foreign destination if Riyadh agreed to buy $500 billion worth of American products, similar to what it did in his first term.
“I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product. I said I would do it, but you have to buy American product, and they agreed to do it,” Trump said, referring to his 2017 .visiting the Gulf Kingdom.
