US President Donald Trump has secured $600 billion in investment commitments during a summit in Saudi Arabia, according to the White House, a key focus of his first scheduled foreign trip since returning to office, reports Bloomberg.
The White House issued a press release outlining agreements it said were reached to “strengthen our energy security, defence industry, technology leadership, and access to global infrastructure and critical minerals.”
Full details of the announcements touted by the White House were not immediately available.
The total figure matches the number Crown Prince Mohammed bin Salman had previously promised over the next four years in enhanced trade and investment with the US. However, Trump had said he would like to see the Saudis raise that figure to $1 trillion.
Earlier on the day, Reuters reported that Trump and Mohammed bin Salman signed a strategic economic partnership agreement in Riyadh during Trump’s regional visit.
The partnership includes agreements for energy, mining, and defence.
Trump began a tour of wealthy Gulf states on Tuesday by visiting oil power Saudi Arabia, with his focus on securing mega investment deals rather than resolving pressing security problems in the Middle East.
Emerging from Air Force One on his first formal state, with a who’s who of US business leaders including Elon Musk in tow, Trump punched the air in a show of solidarity as Crown Prince Mohammed bin Salman greeted him on his arrival in Riyadh.
Trump will go on from Riyadh, which is hosting a Saudi-US Investment Forum, to Qatar on Wednesday and the United Arab Emirates on Thursday.
He has not scheduled a stop in Israel, a decision that has raised questions about where the close ally stands in Washington’s priorities.
