Relations between Saudi Arabia and France date back to 1926, marking the beginning of a century-long partnership built on mutual respect, trust and constructive dialogue.

Over the decades, cooperation between the two countries has expanded far beyond diplomacy to encompass trade, investment, energy, industry, defense, culture, education, tourism, healthcare, aviation and technology.

This historic foundation has provided a stable framework for cooperation between the two governments and their respective business communities, allowing the partnership to evolve in response to changing economic priorities and emerging global opportunities.

The signing of the Comprehensive Strategic Partnership, together with the establishment of the Saudi-French Business Council in 2003 and the Strategic Partnership Council in 2024, marked important milestones in the relationship. These developments opened broader avenues for cooperation across both established and emerging sectors.

Economic and investment ties have gained considerable momentum in recent years. Bilateral trade reached SR44.2 billion ($11.8 billion) in 2025, underscoring the strength of commercial ties and the growing exchange of goods and services between the two economies.

French foreign direct investment stock in Saudi Arabia reached SR63.9 billion in 2024, more than double its 2021 level, making France the fourth-largest source of foreign direct investment in the Kingdom.

The footprint of French companies has also continued to grow, with 651 investment licenses distributed across 18 sectors.

The expanding economic relationship is underpinned by the complementary strengths of the two countries. France brings advanced expertise in technology, industry, finance, innovation, transport, renewable energy and infrastructure, while Saudi Arabia’s Vision 2030 is creating extensive investment opportunities across a rapidly diversifying economy.

The Kingdom’s transformation is generating opportunities across entire value chains, from infrastructure and advanced manufacturing to tourism, culture, artificial intelligence, digital services, logistics and clean energy. For French companies, this creates opportunities not merely to supply products and services, but to build long-term partnerships, localize capabilities, transfer knowledge and participate directly in the Kingdom’s economic development.

Saudi Arabia also offers investors a stable political, social, regulatory, economic and financial environment. Clearly defined development plans provide greater visibility into the economy’s direction and prospects, while strong economic fundamentals support the implementation of major initiatives. Long-term national policies further reinforce investor confidence and provide a clear outlook for the Kingdom’s future growth.

Against this backdrop of longstanding cooperation and deepening economic ties, the recent official visit of Crown Prince Mohammed bin Salman to France provided renewed momentum to the bilateral relationship. The visit reinforced the shared commitment to strengthening ties and advancing a more ambitious economic and investment partnership.

A key component of the visit was the French-Saudi Investment Roundtable in Paris, which brought together senior officials, business leaders and chief executives of major companies and institutions from both countries.

The roundtable resulted in the announcement of 21 agreements and memorandums of understanding between Saudi and French public and private sector entities. Covering energy, industry, financial services, transport and logistics, artificial intelligence, culture, healthcare and tourism, the agreements reflected both the breadth of the existing partnership and the diversity of opportunities available to investors.

These agreements can help take bilateral economic relations beyond conventional trade toward deeper forms of cooperation, including joint investment, industrial partnerships, technological development, knowledge transfer and the creation of sustainable economic value.

The partnership is also extending into emerging fields such as gaming and esports, adding new dimensions to an already broad economic relationship.

As Saudi Arabia and France mark a century of diplomatic relations, their partnership stands at an important juncture. Built on a longstanding foundation of mutual trust and strengthened by expanding cooperation across traditional and emerging sectors, it is well positioned to enter a new phase — one defined not only by stronger trade and investment, but by deeper economic integration, shared expertise and long-term opportunities for growth.

The next century of Saudi-French relations can therefore build on the achievements of the past while focusing squarely on the opportunities of the future.

  • Talat Zaki Hafiz is an economist and financial analyst. X: @TalatHafiz