GCC Summit: Saudi Crown Prince Spotlights Record $120B US Trade Deal
Saudi Crown Prince explains the trade volume between Saudi Arabia and the U.S. has reached $120 billion in 2024. This marks a most important milestone in their economic partnership. The Crown Prince Mohammed bin Salman shared these details at the recent Gulf Cooperation Council summit. The reliable commercial relationship between both nations continues to grow stronger.
The Crown Prince revealed Saudi Arabia’s ambitious plans. His country will invest $600 billion in the U.S. over the next four years. This strengthens their economic alliance even further. The announcement includes a record-breaking defense deal worth $142 billion – the largest in U.S. history. The total trade between both countries from 2013 to 2024 amounts to $500 billion. These numbers show how their economic ties have grown steadily over the last several years.
Crown Prince announces $120B trade milestone at GCC-U.S. Summit
Image Source: Economy Middle East
His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud delivered the opening address at the historic GCC-U.S. Summit in Riyadh on May 14, 2025. Custodian of the Two Holy Mosques King Salman bin Abdulaziz Al Saud hosted the gathering, which the Crown Prince and U.S. President Donald Trump jointly chaired.
“Our meeting with President Trump today builds upon the longstanding relationship and strategic partnership between our countries and the United States, evolving into a model of cooperation over the decades,” stated the Crown Prince. The summit highlighted their steadfast dedication to collective action that strengthens relations and expands mutually beneficial alliances.
Trade discussions dominated the agenda, as the Crown Prince pointed out that GCC countries and United States’ trade volume reached AED 440.63 billion in 2024. This achievement confirms United States’ role as a vital trade and investment partner for Gulf states.
“We look forward to further collaboration in trade exchange, consolidating economic relations, and learning new avenues for mutual benefit in sectors of all types that arrange with our shared interests,” the Crown Prince remarked.
President Trump praised Gulf countries for pioneering efforts to establish a peaceful and prosperous Middle East. He observed that “the whole world is watching the Middle East, and many observe with admiration the opportunities emerging in this region”.
Economic and security cooperation received equal attention at the summit. Leaders from all countries pledged to promote GCC-U.S. economic integration and remove barriers to increase trade in goods and boost investment by a lot.
GCC Secretary-General Jasem Mohamed al-Budaiwi emphasized the partnership’s broader scope: “The GCC-U.S. partnership stands on solid ground and is demonstrated across areas of trade, investment, education, energy, and defense”. Ten working groups now oversee this complete partnership, which represents “a unique model of multidimensional strategic integration”.
Saudi Arabia and U.S. sign major investment and defense deals
A landmark meeting between the United States and Saudi Arabia led to massive investment deals. Saudi Arabia pledged to invest $600 billion (AED 2203.16 billion) in the United States. The package has “the largest defense sales agreement in history” valued at $142 billion (AED 521.42 billion). This deal will provide Saudi Arabia with defense equipment and services from numerous U.S. companies.
The Saudi crown prince shared his vision: “Today we hope for investment opportunities worth $600 billion, including deals worth $300 billion that were signed during this forum”. He mentioned that teams would keep working “in the coming months on the second phase to complete deals and raise it to $1 trillion (AED 3.67 trillion)”.
The defense agreement spans several crucial areas. These include air force advancement, space capabilities, air and missile defense, maritime security, border security, and communication systems upgrades. Saudi Arabia’s current foreign military sales with the U.S. stand at more than $129 billion (AED 473.68 billion).
The partnership reaches far beyond defense alone. Saudi Arabian firm DataVolt plans to invest $20 billion (AED 73.44 billion) in AI data centers and U.S. energy infrastructure. Major tech giants like Google, Oracle, Salesforce, AMD, and Uber have committed $80 billion (AED 293.76 billion) to develop groundbreaking technologies in both countries.
GE Vernova will deliver gas turbines and energy solutions worth $14.2 billion (AED 52.14 billion). Saudi Aramco revealed 34 initial agreements with major U.S. companies that could reach $90 billion (AED 330.47 billion). This includes a $3.4 billion (AED 12.48 billion) deal to expand Texas’s Motiva refinery.
The Public Investment Fund struck mutually beneficial alliances with Franklin Templeton, Neuberger Berman, and Northern Trust Asset Management. These deals could bring up to $12 billion (AED 44.06 billion) into Saudi Arabia’s financial markets. Economic experts point out that the $1 trillion target roughly equals Saudi Arabia’s entire gross domestic product.
GCC-U.S. alliance expands into education, clean energy, and security
Image Source: Gulf Times
The GCC-U.S. partnership has grown beyond economic investments and defense agreements into several strategic sectors. The United States and UAE launched the Partnership for Accelerating Clean Energy (PACE) in November 2022. This partnership aims to generate AED 367.19 billion in financing and deploy 100 gigawatts of clean energy by 2035. The initiative helps promote cooperation in clean energy state-of-the-art, carbon management, nuclear energy, and industrial decarbonization.
UAE-based Masdar’s acquisition of a 50% stake in Terra-Gen has expanded its U.S. renewables portfolio to over 3 gigawatts across multiple states. ADNOC has also purchased a 35% stake in ExxonMobil’s low-carbon hydrogen facility in Texas. The facility plans to produce 900,000 tons of low-carbon ammonia yearly.
The United States maintains AED 107.59 billion in active government-to-government sales cases with the UAE. A recent AED 521.42 billion arms package with Saudi Arabia strengthens the regional security framework. Gulf nations host critical U.S. military facilities, including the Fifth Fleet in Bahrain and the Combined Air Operations Center in Qatar.
American universities have seen fewer students from Gulf countries in recent years. Saudi student numbers in the U.S. fell from 61,287 to 15,989 in the 2022-2023 academic year. All the same, programs like Saudi Arabia’s King Abdullah Scholarship Program continue to support GCC students pursuing U.S. education.
The U.S. works with GCC members in security operations of all types, including border security, maritime security, and counterterrorism. The UAE has fought with U.S. forces in Afghanistan and Iraq and actively participates in the Global Coalition to Defeat ISIS. The Gulf Air Warfare Center at Al Dhafra Air Base provides regional training to approximately 2,000 participants from 10 nations each year.
The trade relationship between Saudi Arabia and the US has reached new heights, as shown by the impressive $120 billion trade volume announced at the GCC Summit. This economic partnership now ranks among the most important bilateral trade relationships in the digital world. The Crown Prince’s pledge to invest $600 billion in the United States over the next four years shows Saudi Arabia’s long-term faith in American markets and institutions. A historic $142 billion defense agreement highlights how this relationship goes far beyond just commercial interests.
Both nations recognize future economic and environmental priorities through their expansion into clean energy initiatives like PACE. The technology sector has received major investments, with companies like DataVolt putting $20 billion into AI data centers and energy infrastructure. Saudi student numbers in American universities have dropped in recent years, but educational partnerships continue to play a vital role in bilateral relations.
The GCC-US alliance has grown beyond traditional economic cooperation to cover security, defense, education, and clean energy sectors. Both parties have shown their dedication to deeper ties through real investments and mutually beneficial agreements, despite occasional challenges. The total trade volume of $500 billion between 2013 and 2024 reflects this lasting partnership, which looks set to grow even more as Saudi Arabia works to complete deals worth up to $1 trillion.
