Saudi Crown Prince Mohammed bin Salman informed President Donald Trump during a phone call on Thursday that the kingdom intends to allocate $600 billion to boost trade and investment with the United States in the coming four years.
The Crown Prince noted that the anticipated reforms under the Trump administration could bring about exceptional economic growth.
As reported by the Saudi state news agency, the kingdom plans to take advantage of these promising conditions, but it was unclear whether the $600 billion would be sourced from public or private funds, or how it would be distributed. Bin Salman also mentioned that the investment could rise further if more opportunities present themselves.
Trump, who has nurtured strong relationships with Gulf nations like Saudi Arabia, stated that he might consider visiting Saudi Arabia first during a foreign trip if the kingdom agreed to buy $500 billion worth of American products. “I did it with Saudi Arabia last time because they agreed to purchase $450 billion worth of our products,” Trump recalled about his 2017 visit to the country.
Following Trump’s first term, Saudi Arabia made a $2 billion investment in a company set up by his son-in-law and former adviser, Jared Kushner.
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