Trump in the Middle East: How much are US-Gulf investments worth?
When will Trump be visiting each country?
Trump arrived in Riyadh, Saudi Arabia, on Tuesday just before 10am local time (07:00 GMT), where he was greeted by MBS. The same day, he is scheduled to attend a Saudi-US investment forum featuring leading companies such as BlackRock, Citigroup, Palantir, Qualcomm, and Alphabet.
On Wednesday, he is scheduled to take part in a Gulf summit in Riyadh, before travelling to Qatar later that day. He will conclude his trip in the UAE on Thursday, May 15.Trump’s first visit as president was to Saudi Arabia
During his first term, 2017 to 2021, Trump became the first US president to make the Middle East his first international destination, breaking with the longstanding tradition of visiting neighbouring North American countries first.His trip to Saudi Arabia from May 20 to 22, 2017 – during which he attended the Riyadh Summit – was a calculated move to bolster defence ties and secure substantial arms deals.
During that trip, Trump also visited Israel and Palestine.During the summit, Trump and Saudi King Salman bin Abdul Aziz Al Saud signed a $110bn arms deal, including missile defence systems, tanks, combat ships and cybersecurity technology, with the intent of buying $350bn worth of arms over 10 years.
A memorable moment from that 2017 trip to Saudi Arabia was during the inauguration of the Global Center for Combating Extremist Ideology in Riyadh. In a surreal photo op that quickly went viral, Trump stood alongside King Salman and President el-Sisi with their hands on a glowing orb.
What is the value of US-Gulf investments?
Sami al-Arian, director of the Center for Islam and Global Affairs at Istanbul Zaim University, told Al Jazeera that Trump has been very vocal about his objective in visiting the three Gulf states: investments.
Trump’s administration has reportedly discussed the possibility of expediting investments by Saudi Arabia, Qatar and the UAE before his trip to the region.“He’s trying to get trillions of dollars out of these countries,” al-Arian told Al Jazeera.
“He’s already said that he’s hoping to get $1 trillion from Saudi Arabia in terms of arms sales and commercial deals,” he said.
US-Saudi investments
According to the latest data from the US Department of Commerce, the total stock of US foreign direct investment (FDI) in Saudi Arabia reached $11.3bn in 2023.
Conversely, Saudi Arabia’s FDI stock in the US stood at $9.6bn, mostly in transport, real estate, plastics, automotive, financial services and communications, according to the Commerce Department.
These figures are only FDI, not other investments, like portfolio investments or short-term financial flows.
