11:22 GMT +325 April 2017
Live
    Saudi Arabia's Deputy Crown Prince and Minister of Defense Muhammad bin Salman Al Saud. (File)

    US, Saudi Arabia to Develop $200Bln Investment Program - White House

    © AFP 2017/ STEPHANE DE SAKUTIN
    Business
    Get short URL
    137045

    US President Donald Trump agreed in a meeting with Saudi Deputy Crown Prince and Defense Minister Mohammed bin Salman Abdulaziz Al Saud to support a joint $200 billion, four-year investment program, the White House said in a statement on Wednesday.

    WASHINGTON (Sputnik) — During the meeting on Tuesday, Trump expressed support for US investments in Saudi Arabia and bilateral trade opportunities.

    "President Trump provided his support for developing a new United States-Saudi program, undertaken by joint US-Saudi working groups, and its unique initiatives in energy, industry, infrastructure and technology worth potentially more than $200 billion in direct and indirect investments within the next four years," the statement said.

    Furthermore, Trump and Salman agreed to continue bilateral energy consultations in a way that limits supply disruption and market volatility, the White House said.

    According to the US Energy Information Administration the United States exported 4.7 million barrels of oil per day to 147 countries in 2015, mostly in the form of petroleum products.

    In the same year, OPEC member Saudi Arabia exported 1.1 million barrels per day of petroleum products and 7.1 million barrels per day of crude oil.

    Related:

    Iraqi Oil Exports to US Set Record in November 2016, Saudi Shipments Surge
    Saudi Frigate Was Hit by Drone Boat, Not Suicide Bomber: US Navy
    US Arms Sales to Saudi Arabia for Use in Yemen ‘Bilateral Issue’
    Riyadh Acting in Syria Only as Part of US-Led Coalition - Saudi Foreign Minister
    Tags:
    investment, Saudi Arabia, United States
    Community standardsDiscussion
    Comment via FacebookComment via Sputnik
    • Сomment