Saudi Arabia and the United States: Over 80 years of fruitful and strong relations

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Saudi King Salman mets US President Donald Trump in Riyadh in May 2017. (SPA)
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US-Saudi relations evolved over the years to a strategic alliance that strengthened relations between the two countries in various fields. (SPA)
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Late Saudi King Abdullah bin Abdulaziz met with former US President George W. Bush in 2008. (SPA)
Updated 20 March 2018
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Saudi Arabia and the United States: Over 80 years of fruitful and strong relations

JEDDAH: The current official visit by Saudi Crown Prince Mohamad bin Salman, deputy prime minister and defense minister, to the United States symbolizes the keenness of both states to consolidate their partnerships and bilateral ties, which have extended over the course of 80 years.
Mohamad bin Salman’s first official visit as crown prince to the United States was on June 21, 2017, which at the time, implied a new leap in bilateral relations between both countries, and reflected an interest in finding ways to strengthen and develop those historical ties.
The Crown Prince’s current visit is of great importance, in the wake of rapid international and regional developments, the exchange of views and coordination are necessary between Saudi Arabia and the United States, who are countries of regional influence.
In addition, the visit is also aimed at pushing the Saudi economy forward to a wider horizon, in line with the Kingdom’s ambitious Vision 2030.
US-Saudi relations were established on mutual respect, cooperation and common interests. These ties are of special importance for both sides, given their long history, which dates back to 1931 when Saudi Arabia began to explore and produce oil for commercial purposes.
At the time, the late Saudi King Abdulaziz bin Abdul Rahman granted an American company the rights to prospect for oil. The step was followed by the signing of a cooperation agreement between both states in 1933 in support of this economic aspect, which has become a global power ever since.
Twelve years since this agreement had been intacted, King Abdulaziz bin Abdul Rahman strengthened bilateral ties with the US with a historic meeting with US President Franklin Roosevelt aboard the USS Conseil, on 14 February 1945.
The meeting was a turning point in transferring US-Saudi ties to a level of strategic alliance in various fields.


Green light for crown prince-led Saudi privatization program

Updated 25 April 2018
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Green light for crown prince-led Saudi privatization program

  • The Privatization Program is one of 12 key elements of the Saudi Arabia’s Vision 2030
  • The program is aimed at increasing job opportunities for Saudi nationals

RIYADH: Saudi Arabia’s Council of Economic and Development Affairs on Tuesday approved the Privatization Program that is one of 12 key elements of the Kingdom’s Vision 2030. 

The program is aimed at increasing job opportunities for Saudi nationals, attracting the latest technologies and innovations, and supporting economic development.

It encourages both local and foreign investment in order to enhance the role of the private sector, with government entities adopting a regulatory and supervisory role. The aim is to increase the private sector’s contribution to GDP from 40 percent to 65 percent by 2030. 

The program will aim to reach its objectives through encouraging the private sector to invest in establishing new schools, universities and health centers, while the government pursues its organizational and supervisory role in health and education.

The privatization program aims to benefit from previous success stories, with the private sector’s collaboration in the development of infrastructure, and its involvement on a large scale in sectors such as energy, water, transport, telecommunications, petrochemicals and finance.

The program sets out a series of objectives in three areas: Developing a general legal framework for policies related to privatization; establishing organizational foundations and dedicated institutions to execute the policies; and setting a timescale for their delivery. 

The Council of Economic and Development Affairs is headed by Crown Prince Mohammed bin Salman.