Trump - Bin Salman, 'Strategic Agreement' on Energy, Defense, Resources

Source

Korea Economic Daily

Summary

President Donald Trump announced that during his Middle East tour, he signed a strategic economic partnership agreement with Saudi Arabia, including $600 billion in investment and exports.
The two countries signed agreements in various fields such as energy, defense, and resources, including a large-scale arms equipment sales contract with U.S. defense industry companies.
President Trump positively evaluated Saudi Arabia's investment in the U.S. and emphasized the economic cooperation between the two countries.

First Overseas Visit to Saudi Arabia After Inauguration

$600 Billion Investment and Export Agreement Signed

Trade and Arms Deals Discussed in Talks

Bin Salman Welcomes at Airport… Contrast with Biden

On the first day of his Middle East tour on the 13th, U.S. President Donald Trump arrived in Saudi Arabia and signed a strategic economic partnership agreement with Crown Prince Mohammed bin Salman, the de facto ruler.

On this day, Reuters and others reported, citing Saudi state television, that President Trump visited the capital Riyadh and signed an agreement with Crown Prince Bin Salman that included agreements in the fields of energy, defense, and resources. The two countries' leaders also signed an agreement for the modernization and development of the Saudi military. President Trump and Crown Prince Bin Salman discussed trade, arms deals, and other issues during this meeting. It is reported that Middle East security issues such as the Gaza Strip and ceasefire, stabilization of the Syrian situation, dismantling of Iran's nuclear program, and oil price stabilization were also on the agenda.

On this day, the two countries signed a strategic economic partnership agreement that includes $600 billion (approximately 850 trillion won) worth of investment (Saudi investment in the U.S.) and exports (U.S. exports to Saudi Arabia), and strengthening of security cooperation. The White House announced in a related press release that 12 U.S. defense industry companies signed a historic arms equipment sales contract worth $142 billion with Saudi Arabia.

According to Al Jazeera, President Trump greeted Crown Prince Bin Salman before the formal talks, saying, "I am pleased to meet you." He then showed off their friendship by saying, "We know each other very well and I think we really like each other a lot." Regarding Saudi Arabia's large-scale investment in the U.S., President Trump emphasized, "We will continue to serve your great country very well." He also jokingly said, "It would be better if it were $1 trillion," in response to Saudi Arabia's announcement of a $600 billion (approximately 854 trillion won) investment in the U.S.

President Trump arrived at King Khalid International Airport in Riyadh on this day and was greeted by Crown Prince Bin Salman. Thirty minutes before landing, three Saudi Air Force F-15 fighters escorted President Trump's private plane (Air Force One) on both sides. It is evaluated that Crown Prince Bin Salman's direct reception at the airport is quite different from the visit of former President Joe Biden three years ago.

Reporter Sangmi Ahn saramin@hankyung.com