Saudi Arabia’ crown prince Mohammed bin Salman on Thursday announced that he is looking forward to investing a staggering $600 billion in the United States in the upcoming four years.
This announcement follows US President Trump’s plans to visit the middle eastern nation as his first foreign trip.
After his inauguration, Trump talked about his potential head out to the kingdom as his first foreign trip.
“The first foreign trip typically has been with the UK but … I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our products,” Trump told journalists in the Oval Office.
“If Saudi Arabia wanted to buy another $450 billion or $500 — we’ll up it for all the inflation — I think I’d probably go.”
During his first term, Trump broke tradition by making Saudi Arabia, rather than the UK, his first international destination in 2017.
The visit also highlighted close relations with the supreme leaders of oil rich Gulf states and presence of his real estate empire across the regions.
The public run Saudi Press Agency, stated that the investment was discussed during a telephonic conversation between Trump and the de facto ruler of the oil-rich kingdom.
“The crown prince affirmed the kingdom’s intention to broaden its investments and trade with the United States over the next four years, in the amount of $600 billion, and potentially beyond that,” the report stated.
However, it did not specify the details of the investment.
In recent years, the US has drawn away from reliance on Saudi’s oil exports which had been the foundation of their close ties for decades.
At present, Saudi sovereign wealth funds have taken large stakes in American businesses while also looking at sports as well.
The White House did not comment on the call.
The crown prince also spoke with US secretary of state Marco Rubio.
Trump maintained close ties with Saudi Arabia, even after the 2018 killing and dismemberment of Washington Post columnist Jamal Khashoggi in Istanbul, which was linked to the crown prince.
