Saudi Arabia and the United States have enjoyed a deepening economic relationship for over 80 years, evolving from a foundation built on oil and gas to diverse cooperation through Saudi Arabia’s Vision 2030 initiatives. This vision marks a strategic shift toward economic diversification and innovation beyond hydrocarbons. The relationship began in the 1930s with King Abdulaziz granting oil exploration rights to the American Standard Oil company, creating Aramco, which dramatically fueled Saudi development after striking commercial oil in 1938.
Economic ties broadened in the 1970s and intensified with the establishment of the US-Saudi Joint Commission on Economic Cooperation in 1974, expanding US private sector participation in Saudi projects. Partnerships now span defense, energy, technology, investment, and education, exemplified by the King Abdullah Scholarship Program supporting Saudi students in US universities.
Today, Saudi Arabia stands as one of the largest US trading partners in the Middle East. Vision 2030 further advances this cooperation by fostering a thriving, diversified economy, driving non-oil sectors such as technology, tourism, and renewable energy, and strengthening bilateral economic collaboration for sustainable growth .
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