The growth of trade exchanges between the Kingdom and the United States..strong economic relations and promising investment prospects

Jeddah – the land

Within the framework of the well-established strategic partnership between the two friendly countries, Riyadh and Washington have strong economic relations, and the United States and its financial and business centers are aware of the importance of the position and role of the Kingdom of Saudi Arabia in various levels, and as the largest and strongest economy in the region and its active membership of the Group of Twenty, and as an oasis of stability and promising investment opportunities.
There are 742 US companies operating in the Kingdom, and the total US capital invested in the Kingdom is 90.6 billion riyal, and the total number of US-Saudi joint ventures has reached 609 projects, with an investment value of about $ 62 billion. more than 21,034 U.S. brands in the Saudi market by the year 2022, and the volume of trade exchanges between the two countries in 2021 amounted to more than $ 25 billion, and the trade balance has surpassed the last ten in favor of the Kingdom achieves years.
U.S. companies are major investment partners in strategic Saudi industries, and they are not limited to traditional industries such as oil and gas, but have spread to several fields, including the establishment of the world’s largest entertainment city near the capital, Riyadh.

Agreements and investment opportunities
The Kingdom has signed many agreements with the US Government to increase the volume of investment, as the Kingdom is eager to strengthen the investment sector, diversify the production base, economic sustainability and attract foreign capital within the framework of its plan to the ranks of the top 10 countries in the field of attracting investment in the world, especially in light of the new investment system.The decision to introduce a visa for foreign businessmen for several trips over the course of a year reflects the Kingdom’s zeal to improve the investment environment and provide means of success for investors.
The Saudi Business Council holds a series of consecutive meetings with its US counterparts each year, with the aim of reviewing key investment opportunities in the two countries and ways to develop and develop economic and investment relations and cooperation. . and increasing the volume of trade exchanges Many political countries have followed the transfer of factories, technology and raw materials to achieve its goals in economic transformations.
The announcement by the Guardian of the Two Holy Mosques to allow foreign companies to operate in the local market came directly from the heart of the United States, so that the message would be clear about the Kingdom’s orientation towards a free market economy. with its global standards.
At the commercial level, Saudi exports to the United States of organic chemicals, precious and semi-precious metals, and the textile industry increased, and this development reflects the greatest economic transformation taking place in the Kingdom to develop a non-oil economy through investment. in manufacturing, petrochemical manufacturing, and other emerging sectors through a Public Investment Fund, and national programs such as the National Industrial Development and Logistics Program.
The Saudi Business Council holds a series of consecutive meetings with its US counterparts each year, with the aim of reviewing key investment opportunities in the two countries and ways to develop and develop economic and investment relations and cooperation. . and increase the volume of trade exchanges. Many political countries followed the transfer of factories, technology and raw materials to achieve its goals in economic transformations. This is why the Guardian of the Two Holy Mosques announced to allow foreign companies to enter the local market directly from the heart of the United States, so that the message would be clear about the Kingdom’s boldness towards a market economy and that it really wanted to create a free economy with global standards.

cooperation agreements
The trade and economic relations between the Kingdom and the United States are supported by a set of agreements, the most important of which is the (Technical Cooperation Agreement between the governments of the two countries), according to which the two countries seek to expand the circle of cooperation . between them in the fields of economics, technology and industry, according to a joint bilateral understanding.The Kingdom and America have concluded another co-operation agreement entitled The secured private investment agreement with the aim of increasing the volume of partnerships between US private companies in local projects enlarge. in the Kingdom which contributes to the introduction of modern technology, as it is the largest stable economy in the Middle East, and is characterized by its active membership in the Large Economic Group of Twenty, in addition to its membership in the World Trade Organization. , and has the largest external reserves on a per capita basis.
The Kingdom of Saudi Arabia has signed a series of $ 280 billion agreements and other unprecedented economic cooperation agreements with the United States in 2020, in the presence of a high-ranking economic delegation that includes the heads of giant US companies. The most prominent similarities of the two sides are summarized:

Saudi Aramco’s $ 50 billion deal with US companies.
General Electric $ 15 billion deal in industry and mining.
The General Dynamics deal will improve the location of the design and support of armored combat vehicles, and the design of foreign drilling vehicles, with a value of $ 7 billion.
The scope of a joint venture with oil drills expanded by $ 9 billion.
Aramco and National Oilwell: A new $ 6 billion joint venture.
ExxonMobil and SABIC: agreements for projects to manufacture petrochemicals.
Lockheed Martin: Support for the assembly of 150 Black Hawk S-70 helicopters in Saudi Arabia
A memorandum of understanding worth $ 250 million in oil projects, and an aircraft purchase agreement between Saudi Airlines and Boeing.
A note of $ 3.6 billion for projects with Aramco.
Two billion dollar projects to locate oilfields goods and services.
A $ 2.8 billion memorandum of understanding to locate Aramco’s goods and services.
Build a polymer production facility and study other projects.

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