US, Saudi Arabia forge historic strategic partnership to boost economic ties

In a historic move, the US and Saudi Arabia have signed a strategic partnership agreement aimed at bolstering economic ties between the two nations.

The signing ceremony, which took place in Riyadh, was broadcast live on major US TV channels, with both President Donald Trump and Crown Prince Mohammed bin Salman in attendance, Caliber.Az reports via foreign media.

The agreement represents a significant step in strengthening the long-standing relationship between the US and Saudi Arabia, with an emphasis on expanding trade, investment, and collaborative efforts in various sectors.

The partnership is expected to unlock new opportunities for both countries, particularly in areas such as technology, energy, and infrastructure. In addition to the economic agreement, the two countries also signed a defence cooperation pact. This agreement is designed to modernise Saudi Arabia's armed forces, enhancing the kingdom’s defence capabilities and ensuring continued security cooperation between the US and Saudi Arabia. 

The pact reflects the continued importance of military alliances in the region. Furthermore, a groundbreaking treaty was signed between the Saudi Space Agency and NASA, marking a significant milestone in space exploration and technology collaboration. This agreement sets the stage for future joint missions and advancements in space research. Riyadh served as the first stop on President Trump’s Middle East tour, which is set to last until May 16. 

The tour will also include visits to Qatar and the UAE, as well as participation in a summit with the leaders of Gulf Cooperation Council (GCC) countries. In addition to political engagements, Trump will also attend an investment forum aimed at fostering greater economic cooperation in the region.

By Naila Huseynova