Trump to sign several deals with Saudi Arabia during Riyadh visit

US President Donald Trump waves as he steps from Air Force One upon his arrival in West Palm Beach, Florida, US, February 17, 2017.


:: US President Donald Trump meets Saudi officials in Riyadh on Saturday and is expected to sign several agreements with the kingdom during his trip.

Trump will participate in a Twitter forum with young people, National Security Advisor H.R. McMaster said on Tuesday. The Twitter event will also host Malala Yousafazai and Twitter’s Jack Dorsey.

Trump will meet with 56 Arab and Muslim leaders to discuss combating extremism and cracking down on illicit financing under the summit slogan “Together We Prevail”.

He will also deliver a speech on “the need to confront radical ideology” and participate in the inauguration of a new center intended “to fight radicalism and promote moderation,” McMaster said.

A website was launched detailing the agenda of the summits, which will include three separate meetings.

Business opportunities

An inaugural Saudi-U.S. CEO forum will be held in Riyadh on Saturday in which several deals are expected to be signed in defense, electricity, oil and gas, industrial and chemical sectors. New licenses for US companies to operate in the Kingdom also will be issued.

The CEO of state oil giant Saudi Aramco is expected to sign deals with top US companies to promote local manufacturing.

General Electric Co is due to sign several memoranda of understanding. Saudi Basic Industries Corp 2010.SE and US oil company Exxon Mobil Corp are also expected to sign a protocol agreement to develop their joint chemical project in Texas, a source close to the matter said.

The White House official said the kingdom was in the final stage of negotiating a $100 billion arms deal.

A New York Stock Exchange delegation is also expected to visit Saudi Arabia after Trump to try to lure a listing by Aramco, slated for 2018 and worth about $100 billion.

World stock exchanges are vying for slices of Aramco’s initial public offering, expected to be the largest in history, with Hong Kong currently the frontrunner among bourses in Asia because of its strategic links to key Saudi oil importer China.

The NYSE delegation will have tough competition as rival exchanges tweak regulation to become more attractive options.


US Army Lieutenant General H.R. McMaster speaking at a press conference on Tuesday.


The three summits will include several forums and meetings both with officials and citizens. (via Riyadh Summit 2017)













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