US President Donald Trump and Saudi Crown Prince Mohammed bin Salman (MBS) signed a historic strategic economic partnership agreement in Riyadh during President Trump’s regional tour.
As announced by the White House, the agreements include a significant $142 billion in defense sector investments. Saudi Arabia is set to purchase $14.2 billion worth of gas turbines and $4.8 billion in Boeing aircraft as part of the deal.
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In addition, a $5 billion energy investment fund and a $5 billion aerospace and defense technology fund will be established under the new partnership framework. Another notable development is the creation of a $4 billion global sports fund, which is expected to strengthen cooperation in the sports industry.
This agreement marks a significant step forward in the strengthening of economic and defense ties between the United States and Saudi Arabia.
