Trump visit: US, Saudi Arabia ink deals worth blns USD

2017-05-20 22:30 GMT+8
Editor Wang Xuejing

The US and Saudi Arabia signed defense and business deals worth billions of US dollars on Saturday as part of US President Donald Trump's visit.

According to Al Arabiya local news, US defense contractor Raytheon has announced a partnership with Saudi military industries to create an Arab operation. Raytheon's Arab branch will develop smart weapons and air defense systems in Saudi Arabia.

The announcement was made on Saturday during a CEO business forum in Riyadh that corresponded with Trump's visit to the country, and focused on enhancing defense ties.

(From L) US Secretary of State Rex Tillerson, US President Donald Trump, Commerce Secretary Wilbur Ross and adviser Jared Kuchner take part in a bilateral meeting with Saudi officials on Saturday. /VCG Photo

Meanwhile, the American technology and engineering giant General Electric (GE) announced on Saturday it had signed 15 billion US dollar deals with Saudi Arabia which will help boost the kingdom's drive to diversify its non-oil economy. The deals were also announced during the forum. 

Dozens of senior US business executives are meeting their Saudi counterparts at the conference.

Some of the prominent projects will help make Saudi power generation more efficient, and provide digital technology to petrochemical giant Saudi Aramco's oil operations, aiming to add four billion US dollars to Aramco's annual productivity.

Trump arrived in Riyadh on Saturday as part of a two-day trip to discuss cooperation, especially in counterterrorism. 

(Source: Xinhua)

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