Kingdom and France deepen economic ties
The economic partnership between Saudi Arabia and France is expanding significantly, with a focus on strengthening cooperation in the fields of energy, technology, and transportation, in line with Saudi Vision 2030 objectives. Current trade relations involve the exchange of goods valued at nearly $48 billion, with an annual growth rate of 15.37% between 2020 and 2024. French investments in Saudi Arabia exceed $17 billion, primarily concentrated in energy, infrastructure, and services. The collaboration includes investments in the oil and petrochemical sectors, such as the Satorp refinery project, as well as initiatives in renewable energy. It also encompasses transportation projects like railways and metro systems, alongside expanding cooperation in artificial intelligence, space, smart cities, and cultural heritage. These efforts reflect both countries' commitment to building more diverse and sustainable relations to achieve their national development goals.
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