Macron’s schedule includes high-level meetings, a visit to Riyadh Metro, the Saudi-French Economic Forum and a number of cultural visits, including Al-Ula.
President Macron visit includes a significant commercial and economic delegation made up of CEOs of major French companies and manufacturers that are either existing partners with Saudi Arabia or seeking to establish partnerships. An estimated 400 French companies are currently engaged in joint projects and investments with Saudi Arabia.
Speaking to the Saudi-French Economic Forum, Macron stated, “We want to partner with you, meaning we want to create jobs here. We want to produce with you. We want to be partner of your vision and the vision of the Crown Prince [Mohammed bin Salman] for 2030.”
In 2023, French-Saudi trade amounted to $10 billion. Saudi Arabia is France’s leading supplier of hydrocarbons in the region. France had investments in Saudi Arabia valued at $2.3 million in 2022.
Notable announcement from the trip include the signing of solar tenders with France’s TotalEnergies for 300 megawatt solar park and Electricite de France (EDF) for a 1,000-megawatt solar power plant in Al Masaa and a 400-megawatt plant in Al Hinakiyah. Contracts amounts were not announce. The French companies entered into 25-year power purchase agreements with the Saudi Power Procurement Company for the projects.
Macron also announced that he and Crown Prince Mohammed bin Salman would co-chair a conference on the establishment of a Palestinian state in June, 2025. According to Le Monde, Macron commented that, “In the coming months, together we will multiply and combine our diplomatic initiatives to bring everyone along this path…We want to involve several other partners and allies, both European and non-European, who are ready to move in this direction but who are waiting for France.”
Saudi Press Agency, French President Arrives in Riyadh
France has a long historical relationship with Saudi Arabia and the Arabian peninsula opening its first consulate in 1830 in Jeddah and recognizing Saudi Arabia as a sovereign state in 1926. It has also been supportive of Saudi efforts to host Expo 2030, the 2034 football World Cup and the Winter Olympics.
France, “faces stiff competition from China and the US on business and investments. France has been trying to relaunch its business relations with Saudi Arabia for several years. So far success has been limited because both sides expect larger investments than what has materialised.” France is also pushing to sell about 50 Rafale fighter jets made by Dassault Aviation to Saudi Arabia. Germany has said it may soon reverse the ban on selling its Eurofighter Typhoon jets to Saudi Arabia, and Washington is negotiating a wide-ranging defence package with Riyadh. “France can’t compete with the US but wants to support Saudi Arabia in its drive to diversify its economy,” Ms Lons said.
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