Saudi Prince promises Donald Trump $600 billion trade, investment boost

RIYADH: Saudi Arabia's Crown Prince Mohammed Bin Salman told President Donald Trump he's willing to expand investments and trade with the US in the coming four years by $600 billion, according to the kingdom's state-run news agency SPA.

The crown prince, known as MBS, spoke to the American president in a congratulatory phone call on Wednesday, SPA said.

During the call, Prince Mohammed said the kingdom was eager to seize partnership and investment opportunities created by the new administration's anticipated reforms, which could achieve "unprecedented economic prosperity."


SPA did not provide further details or say what reforms the crown prince was talking about.

The commitment is large, even by the standards of oil-rich Saudi Arabia. It amounts to around 55% of the country's gross domestic product.

Whether it comes to fruition or not, the crown prince's announcement could help strengthen his ties with Trump.

The two leaders were close during Trump's first term, when the president's first overseas trip was to Saudi Arabia. Earlier this week, Trump said that was because the kingdom had agreed to a substantial investment in US goods, including weaponry.

Trump, hours after his inauguration on Monday, told reporters he'd be happy to visit Saudi Arabia again if it wanted to buy "another $450 billion or $500 billion" worth of US products.

The White House did not publish its own readout of the call between Trump and the crown prince. And it did not immediately respond to a request for comment from Bloomberg.

According to the Saudi report, the two leaders also discussed cooperation between Saudi Arabia and the US to promote peace and stability in the Middle East, and to fight terrorism.