World America 19 May 2017 Saudi Arabia to buy ...

Saudi Arabia to buy arms worth $300 billion

PTI
Published May 19, 2017, 12:56 am IST
Updated May 19, 2017, 12:56 am IST
Saudi Arabia will be the first stop of Trump’s maiden overseas trip beginning later this week.
Saudi Arabia will be the first stop of Trump’s maiden overseas trip beginning later this week.
 Saudi Arabia will be the first stop of Trump’s maiden overseas trip beginning later this week.

 As President Donald Trump prepares for his first overseas trip, Saudi Arabia has announced to make a whopping USD 200 billion investment in the US and intends to purchase arms worth USD 300 billion from America, a senior administration official has said.

Saudi Arabia will be the first stop of Trump’s maiden overseas trip beginning later this week. After Saudi Arabia, he travels to Israel and follow it with a visit to Italy, where he will have an audience with Pope Francis at the Vatican.

 

Trump will also stop at NATO headquarters in Brussels and attend a G7 summit in Italy. “Saudis would be signing for making USD 200 billion of investment in the United States which would create a lot of jobs,” said a senior administration official involved in planning of the major presidential trip. “They (Saudis) see America a place to invest their money for all the reasons. They see our economy really about to take off. They see great rule of law. They see great opportunity here. So they want to invest in US a lot which is good for us to create jobs,” the official said.

 

“They also intend to purchase about $ 300 billion of military equipment. They would be signing deals for about $109 billion, which is all dollar for dollar stuff which US would have to buy alone if we were to go alone to keep the region safe,” the official said.

Trump seeks new partners
US President Donald Trump says that his first overseas visit is aimed at strengthening old friendships and seeking new partners, not those “who take and take and take”.“I will strengthen old friendships and will seek new partners, but partners who also help us, not partners who take and take and take,” he said on Thursday. 

 

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