US President Donald Trump and Saudi Crown Prince Mohammed bin Salman (widely known as MBS) signed a strategic economic partnership agreement in Riyadh during President Trump’s regional tour.
According to the White House, agreements worth $142 billion were signed in the defence sector alone. In addition, Saudi Arabia is set to purchase $14.2 billion worth of gas turbines and $4.8billion worth of Boeing aircraft.
A $5billion energy investment fund will be established, along with a $5 billion aerospace and defence technology fund, as part of the agreements reached.
Furthermore, a $4billion global sports fund is also set to be launched under the new cooperation framework.
