Κυριακή, 21 Μαΐου 2017

US, Saudi Arabia ink deals worth blns USD

The United States and Saudi Arabia signed on Saturday defense and business deals worth billions of US dollars as part of the US President Donald Trump's visit.


According to Al Arabiya local news, US defense contractor Raytheon has announced partnership with Saudi military industries to create an Arab operation. Raytheon's Arab branch will develop smart weapons and air defense systems in Saudi Arabia.

The announcement was made on Saturday amid a CEO business forum in Riyadh that corresponded with Trump's visit to the country, and focused on enhancing defense ties.

Meanwhile, the American technology and engineering giant General Electric (GE) also announced on Saturday it had signed 15-billion-dollar deals with Saudi Arabia which will help boost the kingdom's drive to diversify its non-oil economy. The deals were announced also during the forum.

Dozens of senior US business executives are meeting their Saudi counterparts at the conference.

Some of the prominent projects will help make Saudi power generation more efficient, and provide digital technology to petrochemical giant Saudi Aramco's oil operations, aimed to increase 4 billion dollars to Aramco's annual productivity.

Donald Trump arrived on Saturday in Riyadh as part of a two-day trip to discuss cooperation, especially in counterterrorism.
 [globaltimes.cn/Xinhua]
21/5/17

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