The Crown Prince’s visit to France reflects the depth of relations between the two countries dating back to 1926 when France established a diplomatic mission in the Kingdom at the level of chargé d’affaires. Later, a French diplomatic mission arrived in Jeddah in 1932. Late King Faisal visited France in 1967 and met then French President Charles de Gaulle, taking the relations to new levels based on common interests.
At present, France ranks third in terms of investments in Saudi Arabia and is one of the most important investment partners targeted by SAGIA. There are 70 French enterprises in the Kingdom with investments exceeding U$ 15 billion.
The Crown Prince’s visit to the US had also initiated a new phase of economic cooperation between the two countries that could lead to creating more job opportunities and enabling transfer technology. His visits to Egypt and Britain also yielded diverse economic and political results. There were also common interests highlighted based on mutual respect in all political, security, military, industrial, and commercial domains.
The basic objective of the Saudi Vision 2030 is to diversify the economy and reduce dependency on oil as the primary source of income. It takes advantage of the Kingdom’s geostrategic location as a link between the three continents, surrounded by the most important navigation straits.
Crown Prince’s vision to explore the possibilities of boosting cooperation and partnerships with economically important countries is bound to bear fruit for the common interest of all these countries.