RIYADH:Ƶ has signed deals with the US worth more than $300 billion,Crown Prince Mohammed bin Salman said at theSaudi-US Investment Forum in Riyadh on Tuesday.
During an address at the event, Prince Mohammed said the Kingdom waslooking at $600 billion of investment opportunities, adding that he hopedthis would raise to $1 trillion.
He noted that the US wasamong the largest partners of the Saudi Vision 2030 reform agenda,addingthat joint investments were one of the most important pillars of theeconomic relationship between the two countries.
“The US is a major destination for the Public Investment Fund, accounting for approximately 40 percentof the fund's global investments,” he said.
He also said that cooperation with Washington was not limited to economic cooperation, but also extendedto “establishing peace in the region and the world.”
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Also speaking at the event, US President Donald Trump praised thetransformation underway in Ƶ, as he attributedit to the leadership of King Salman and the crown prince.
Trumpdescribed the crown prince as a “very great man like no other” and “the greatest representative of his people,” and highlighted the role ofSaudisin driving development in their own country and the region as a whole.
Trump pointed to Riyadh’s rise as a global business hub and noted that the Kingdom’s non-oil sector revenues hadnow surpassed those of the oil sector.
He said Ƶ deserved praise for preserving its culture and traditionwhile also embracing its forward-looking, modern Vision 2030 reform agenda.
During his speech, Trump criticized the Biden administration for removing the Houthis from the US terrorist list, calling it a serious mistake.
He contrasted regional developments, stating:“Some (in the Gulf) have turned deserts into farms, while Iran has turned its farms into deserts,” and warned that if Iran rejectedWashington’s outreach, the US would be forced to impose maximum pressure.
Condemning Hezbollah for destabilizing the region and looting Lebanon, Trump said:“The biggest and most destructive of these forces is the regime in Iran, which has caused unthinkable suffering in Syria, Lebanon, Gaza, Iraq, Yemen and beyond.”
He described Lebanon as a victim of Hezbollah and Iran and expressed a desire to help the country.
Trump also praised Ƶ’s role in Russia-Ukraine peace talks and affirmed US support for the Kingdom, saying it has “a great future.”
Earlier on Tuesday, the two leaders signed a strategic economic partnership agreement in Riyadh, the first leg ofTrump’s regional visit.
The partnership includedthe signing of Memorandums of Understanding in theenergy, mining, and defense sectors.
Defense cooperation between the two countries centeredon the modernization of the capabilities of the Saudi armed forces, along with an agreement between the Saudi Space Agency and NASA.
Other agreements included an MoU on mineral resources; an agreementwith the Department of Justice; and cooperation on infectious diseases.
Trump arrived inƵ Tuesday onwhat he called a “historic” tour of the Middle East that will mix urgent diplomacy on Gaza with huge business deals.
Saudi Crown Prince Mohammed bin Salman warmly greeted Trump as he stepped off Air Force One at King Khalid International Airport in the Saudi capital and kicked off his Middle East tour.
The two leaders then retreated to a grand hall at the Riyadh airport, where Trump and his aides were served traditional Arabic coffee by waiting attendants wearing ceremonial gun-belts.
Royal Saudi Air Force F-15s provided an honorary escort for Air Force One as it approached the kingdom’s capital. Trump and Prince Mohammed tookpart in a lunch at the Royal Court, gathering with guests and aides.
* With AFP and AP