US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
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US Officials: Riyadh, Washington Paving the Way for Greater Economic Investments 

US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)
US President Donald Trump meets with Prince Mohammed bin Salman, Saudi Crown Prince and Prime Minister, in the Oval Office at the White House in Washington, DC, USA, 18 November 2025. (EPA)

Former US officials predicted that the Saudi talks at the White House will focus on three main pillars that would pave the way for regional stability and stimulate economic investments.

Scott Pruitt, former Administrator of the Environmental Protection Agency (EPA), said the first pillar is “security and regional architecture. Second is energy, not only oil and gas, but also hydrogen, ammonia, and critical minerals that will power the next generation of industry. The third is investment and technology.”

Prince Mohammed bin Salman, Crown Prince and Prime Minister, had arrived in the US on Tuesday where he held talks with President Donald Trump that focused on consolidating the strategic partnership between their countries. Numerous agreements were announced on the sidelines of the visit.

Pruitt told Asharq Al-Awsat that the relationship between Saudi Arabia and the US “has moved from transactional to strategic.”

“When I first engaged on these issues in government, the focus was largely energy supply and security guarantees. Today, we see structured strategic dialogues, US companies embedded in Saudi mega-projects, two-way investment flows, and growing cooperation in space, digital infrastructure, and advanced industry,” he added.

“The Kingdom’s reforms and Vision 2030 agenda have opened new sectors, tourism, entertainment, logistics, where American firms are natural partners. In short, the cooperation is deeper, more diversified, and more forward-looking than at any other time in our history,” he stressed.

“Visits at this level do two critical things: they set direction and they de-risk action,” Pruitt went on to say. “This meeting can give political backing to move from talking points to term sheets, advancing joint ventures in defense and space, localizing manufacturing in the Kingdom, and forming long-term offtake and investment agreements.”

“As a former regulator, I also see a crucial opportunity for the US and Saudi Arabia to shape the standards and ‘rules of the road’ for these new energy and technology sectors together, instead of leaving that space to others. If that happens, trade, co-investment, and technology transfer will not just increase, but will be anchored in a shared strategic framework that benefits both nations for decades,” he stressed.

Strategic industries

Brian D. Ballard, founder of Ballard Partners, told Asharq Al-Awsat that the Crown Prince’s visit “underscores the renewed strength and shared vision of Saudi-American relations under Trump’s leadership. This visit comes at a pivotal moment as both nations advance a common agenda of security, investment, and innovation.”

“Trump and the Crown Prince are expected to focus on deepening cooperation in defense, trade, and energy - pillars of a partnership that continues to drive prosperity and stability across both nations,” he continued.

“The US-Saudi relationship has reached new heights, grounded in mutual respect and economic opportunity. Under Trump’s leadership, we’ve seen exceptional momentum in technology transfer, energy diversification, and private-sector engagement aligned with Vision 2030,” he remarked.

“This visit will further expand collaboration in strategic industries - from defense and space to renewable energy and hydrogen - cementing the US-Saudi partnership as one of the most consequential alliances shaping the global future,” he added.

Emerging technologies

Edward Mermelstein, former New York City Commissioner for International Affairs, said the Crown Prince’s visit “has the potential to accelerate cooperation” between the Kingdom and the US.

In remarks to Asharq Al-Awsat, he noted that “Saudi Arabia is advancing some of the world’s most ambitious green energy projects, including major investments in hydrogen and ammonia production.”

“Security and energy will always remain essential pillars of the relationship, but the most forward-looking conversations will center on emerging technologies, supply-chain resilience, advanced manufacturing, and economic diversification,” he went on to say.

“The US offers unparalleled expertise in advanced technology, clean energy engineering, defense innovation, and space science,” he said.

“During my tenure as Commissioner for International Affairs in New York City, I saw significant Saudi interest in our city’s leadership in artificial intelligence, life sciences, and urban innovation. At the same time, American companies are increasingly drawn to the scale and ambition of projects underway in the Kingdom.”

“A stronger federal relationship will accelerate what is already happening at the city level. New York and Riyadh are natural partners in creating tech ecosystems, supporting investment platforms, and building the next generation of sustainable and digital infrastructure,” Mermelstein remarked.

“The Crown Prince’s visit adds political support to these efforts and will speed the movement of capital, talent, and technology,” he said.

“This visit arrives at a moment when both countries are looking to deepen cooperation that delivers practical results. Throughout my years of working closely with the Saudi Consulate in New York and engaging with Saudi delegations across business, culture, and technology, I witnessed how Vision 2030 has already reshaped conversations in the United States,” he stated.

“The Crown Prince’s visit elevates that progress to the national level. It signals that both governments are ready to translate shared ambitions into action. For major cities like New York and Riyadh, this creates new opportunities to expand collaboration in technology, investment, education, cultural exchange, and sustainable development. It reinforces a partnership that is already producing real impact on the ground,” he added.



IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
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IMF and Arab Monetary Fund Sign MoU to Enhance Cooperation

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA
The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki - SPA

The International Monetary Fund (IMF) and the Arab Monetary Fund (AMF) signed a memorandum of understanding (MoU) on the sidelines of the AlUla Conference on Emerging Market Economies (EME) to enhance cooperation between the two institutions.

The MoU was signed by IMF Managing Director Dr. Kristalina Georgieva and AMF Director General Dr. Fahad Alturki, SPA reported.

The agreement aims to strengthen coordination in economic and financial policy areas, including surveillance and lending activities, data and analytical exchange, capacity building, and the provision of technical assistance, in support of regional financial and economic stability.

Both sides affirmed that the MoU represents an important step toward deepening their strategic partnership and strengthening the regional financial safety net, serving member countries and enhancing their ability to address economic challenges.


Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT
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Saudi Chambers Federation Announces First Saudi-Kuwaiti Business Council

File photo of the Saudi flag/AAWSAT
File photo of the Saudi flag/AAWSAT

The Federation of Saudi Chambers announced the formation of the first joint Saudi-Kuwaiti Business Council for its inaugural term (1447–1451 AH) and the election of Salman bin Hassan Al-Oqayel as its chairman.

Al-Oqayel said the council’s formation marks a pivotal milestone in economic relations between Saudi Arabia and Kuwait, reflecting a practical approach to enabling the business sectors in both countries to capitalize on promising investment opportunities and strengthen bilateral trade and investment partnerships, SPA reported.

He noted that trade between Saudi Arabia and Kuwait reached approximately SAR9.5 billion by the end of November 2025, including SAR8 billion in Saudi exports and SAR1.5 billion in Kuwaiti imports.


Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
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Leading Harvard Trade Economist Says Saudi Arabia Holds Key to Success in Fragmented Global Economy

Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).
Professor Pol Antràs speaks during a panel discussion at the AlUla Conference for Emerging Market Economies (Asharq Al-Awsat).

Harvard University economics professor Pol Antràs said Saudi Arabia represents an exceptional model in the shifting global trade landscape, differing fundamentally from traditional emerging-market frameworks. He also stressed that globalization has not ended but has instead re-formed into what he describes as fragmented integration.

Speaking to Asharq Al-Awsat on the sidelines of the AlUla Conference for Emerging Market Economies, Antràs said Saudi Arabia’s Vision-driven structural reforms position the Kingdom to benefit from the ongoing phase of fragmented integration, adding that the country’s strategic focus on logistics transformation and artificial intelligence constitutes a key engine for sustainable growth that extends beyond the volatility of global crises.

Antràs, the Robert G. Ory Professor of Economics at Harvard University, is one of the leading contemporary theorists of international trade. His research, which reshaped understanding of global value chains, focuses on how firms organize cross-border production and how regulation and technological change influence global trade flows and corporate decision-making.

He said conventional classifications of economies often obscure important structural differences, noting that the term emerging markets groups together countries with widely divergent industrial bases. Economies that depend heavily on manufacturing exports rely critically on market access and trade integration and therefore face stronger competitive pressures from Chinese exports that are increasingly shifting toward alternative markets.

Saudi Arabia, by contrast, exports extensively while facing limited direct competition from China in its primary export commodity, a situation that creates a strategic opportunity. The current environment allows the Kingdom to obtain imports from China at lower cost and access a broader range of goods that previously flowed largely toward the United States market.

Addressing how emerging economies should respond to dumping pressures and rising competition, Antràs said countries should minimize protectionist tendencies and instead position themselves as committed participants in the multilateral trading system, allowing foreign producers to access domestic markets while encouraging domestic firms to expand internationally.

He noted that although Chinese dumping presents concerns for countries with manufacturing sectors that compete directly with Chinese production, the risk is lower for Saudi Arabia because it does not maintain a large manufacturing base that overlaps directly with Chinese exports. Lower-cost imports could benefit Saudi consumers, while targeted policy tools such as credit programs, subsidies, and support for firms seeking to redesign and upgrade business models represent more effective responses than broad protectionist measures.

Globalization has not ended

Antràs said globalization continues but through more complex structures, with trade agreements increasingly negotiated through diverse arrangements rather than relying primarily on multilateral negotiations. Trade deals will continue to be concluded, but they are likely to become more complex, with uncertainty remaining a defining feature of the global trading environment.

Interest rates and artificial intelligence

According to Antràs, high global interest rates, combined with the additional risk premiums faced by emerging markets, are constraining investment, particularly in sectors that require export financing, capital expenditure, and continuous quality upgrading.

However, he noted that elevated interest rates partly reflect expectations of stronger long-term growth driven by artificial intelligence and broader technological transformation.

He also said if those growth expectations materialize, productivity gains could enable small and medium-sized enterprises to forecast demand more accurately and identify previously untapped markets, partially offsetting the negative effects of higher borrowing costs.

Employment concerns and the role of government

The Harvard professor warned that labor markets face a dual challenge stemming from intensified Chinese export competition and accelerating job automation driven by artificial intelligence, developments that could lead to significant disruptions, particularly among younger workers. He said governments must adopt proactive strategies requiring substantial fiscal resources to mitigate near-term labor-market shocks.

According to Antràs, productivity growth remains the central condition for success: if new technologies deliver the anticipated productivity gains, governments will gain the fiscal space needed to compensate affected groups and retrain the workforce, achieving a balance between addressing short-term disruptions and investing in long-term strategic gains.