Saudi Arabian Crown Prince Mohammed bin Salman told President Donald Trump that the kingdom wants to put $600 billion into expanded investment and trade with the United States over the next four years, the Saudi State news agency said early on Thursday.In a phone call 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 said Saudi Arabia wants its investments to capitalize on these conditions.
It did not detail the source of the $600 billion, whether it would be public or private spending nor how the money would be deployed.The investment &could increase further if additional opportunities arise&, the agency quoted Bin Salman as telling Trump.Trump fostered close ties with Gulf states including Saudi Arabia during his first term.
The country invested $2 billion in a firm formed by Jared Kushner, Trump's son-in-law and former aide, after Trump left office.Trump said following his inauguration on Monday that he would consider making Saudi Arabia his first destination for a foreign visit if Riyadh agreed to buy $500 billion worth of American products, similar to what he 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&ll do it but you have to buy American product, and they agreed to do that,& Trump said, referring to his 2017 visit to the Gulf kingdom.The post Saudi Arabia plans $600 billion in new US investment, trade over four years first appeared on Ariana News.