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Ayda Salem

Saudi Arabia, France Praise Strong Economic Relations, Stress the Importance of Developing and Diversifying Economic and Investment Cooperation

Both nations progressed on the Villa Hegra project in AlUla and committed to establishing the French Institute in Saudi Arabia by 2025, focusing on education, AI, and global challenges like climate change.
Saudi Arabia and France announced a strategic partnership, forming the Strategic Partnership Council to enhance cooperation in energy, health, technology, and other sectors, aligned with their Vision 2030 initiatives.

Riyadh, December 08, 2024, The Kingdom of Saudi Arabia and the French Republic praised the strength of economic relations between the two friendly countries in various fields and the level of trade between them.


 The two nations stressed the importance of enhancing efforts to develop and diversify the base of economic and investment cooperation, and exploring opportunities for cooperation in the fields of energy, industry and mining, agriculture, health, healthcare, biotechnology, communications and information technology, artificial intelligence, quantum technologies, space, and smart and sustainable cities.


 The two sides welcomed the announcement of the strategic partnership roadmap, and the signing of a memorandum of understanding to form the Strategic Partnership Council, which will serve as a comprehensive framework for further development and deepening of Saudi-French relations in many strategic and promising sectors in both countries.


 This was stated in the joint statement issued at the conclusion of the visit of President of the French Republic Emmanuel Macron to the Kingdom, the text of which is as follows:


 ""At the kind invitation of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, President of the French Republic Emmanuel Macron, paid a State visit to the Kingdom of Saudi Arabia on 2, 3 and 4 December, 2024.


 His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, received President of the French Republic Emmanuel Macron at Al-Yamamah palace in Riyadh, where His Royal Highness conveyed to the president the greetings of the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, and his wishes for His Excellency’s good health and wellness, and for the French Republic and its friendly people further progress and prosperity. President Macron asked His Royal Highness the Crown Prince to convey his greetings and sincere wishes to the Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud, for good health and wellness, and for the friendly Saudi people further growth and prosperity.


 The two sides held an official discussion session, during which they reviewed the historical and strategic relations between the two friendly countries, and decided to take the bilateral relationship between France and Saudi Arabia to a new level. The two sides commended the positive results achieved by the visits of His Royal Highness the Crown Prince and Prime Minister to the French Republic in July 2022 and June 2023, and the visit of President of the French Republic Emmanuel Macron to the Kingdom of Saudi Arabia in December 2021, which contributed to expanding the scope of cooperation and developing relations between the two countries.


 Both sides welcomed the announcement of the strategic partnership roadmap and the signing of a Memorandum of Understanding establishing a Council of the Strategic Partnership, co-chaired by the two leaders, which will serve as the comprehensive framework for further development and deepening the Saudi-French relationship over the next decade in the many strategic and promising sectors relevant to Saudi Arabia and France’s relation.


 The two sides agreed that their bilateral relationship is put to the service of three main objectives:


 Each country’s human, social, economic, technological and cultural development, as well as each country’s security and defence;


 Regional and international security and stability, which are one of the main conditions for the Middle East and Europe to maintain and increase economic and social prosperity;


 Addressing global challenges, first and foremost the fight against climate change, global health issues, biodiversity preservation and the global access to clean water.


 The two sides stressed their willingness to bolster their cooperation on many issues of common interest and agreed on the following:


 Economy, trade and investments


 Both sides commended the dynamism of economic relations between the two friendly countries in various fields and the level of trade between them. They stressed the importance of enhancing efforts to develop and diversify the base of economic and investment cooperation. President Emmanuel Macron congratulated again His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, on the organization of Expo 2030 in Riyadh. Both sides explored avenues of cooperation in this perspective, based on French expertise in hosting international events They also discussed cooperation opportunities in communications and information technology, AI, Quantum, space, health, healthcare, agriculture, industry, mining, smart and sustainable cities, tourism, energies and transportation.


 The two sides commended the development of investment relations between the two countries and highlighted the need to increase mutual investments in each country’s productive sectors, in the framework of partnership opportunities provided by the Kingdom’s Vision 2030 and France’s Vision 2030 in a number of targeted sectors, including renewable energy, infrastructure, financial services, information technology, chemicals, transportation, aviation, advanced and manufacturing industries, food industry, education, entrepreneurship, tourism and culture. The two sides noted the importance of increasing the pace of investment integration and continuing intensive efforts to enhance the investment environment for the private sector.


 Both sides commended the results of the Saudi-French Investment Forum, which was held during the visit of HE French President Emmanuel Macron, with the participation of a number of ministers and high officials. The forum was co-chaired by Minister of Investment Khaled Al Faleh and Minister Delegate for Industry Marc Ferracci. It brought together more than 800 participants from major Saudi and French companies and led to the signing of several contracts, agreements, and MoUs. The two sides expressed their aspiration to organize more joint events that contribute to achieving mutual benefit for the two countries.


 Energy


 The two sides commended the depth of their energy cooperation and stressed the importance of enhancing their cooperation in various energy fields, including renewable energy sources, in accordance with the Memorandum of Understanding on Energy signed in February 2023, as well as the peaceful uses of nuclear energy. The French President commended the Kingdom's role in shaping the future of energy, and stressed the willingness of French firms to further support the Kingdom in its ambitions in terms of decarbonation through renewable energy and hydrogen development, as well as in civil nuclear energy in the framework of their intergovernmental agreement signed in 2011.


 The two sides agreed on the importance of cooperation in the field of developing hydrogen projects, transporting and exporting them to demand centers in Europe and the world, and developing its use in industry, transportation and other fields.


 The two sides emphasized the importance of exploring fields of joint cooperation to ensure the sustainability of supply chains, secure raw materials and strategic minerals in energy transition industries, and the possibility of accessing them to ensure the sustainability of energy supplies globally. They also discussed the development of projects in these fields, enhancing the private sector’s share, increasing demand for local critical metals and minerals to achieve mutual benefits, and collaborating in innovation fields, including the application of emerging technologies such as artificial intelligence in the energy sector.


 The two sides acknowledged the strength of their bilateral trade relationship and reaffirmed their commitment to enhancing collaboration across all energy fields. They praised the ongoing partnership in advancing joint projects, including renewable energy, refining, petrochemicals, and retail.


 Culture


 The two sides praised the cultural cooperation between their two countries.


 Both sides also praised the ongoing partnership, realizations, and initiatives in AlUla, noting the progress of the Villa Hegra project. This landmark Saudi-French cultural institution, dedicated to advancing and preserving the arts and cultures of both nations, was officially established during President Macron’s visit to AlUla, marking a significant milestone in their shared cultural vision. In accordance with the intergovernmental agreement for AlUla of April 2018, they welcomed the signature of an agreement to support the renovation of the Centre Georges Pompidou in Paris.


 Both sides reaffirmed their shared commitment to strengthen Saudi-French cultural cooperation and signed several agreements in this respect. These agreements aim to foster collaboration across key cultural sectors, including heritage, archaeology, fashion, visual arts, photography, museums, film, and libraries. In the course of the State visit, President Macron announced the establishment of the French Institute in Saudi Arabia at the beginning of 2025.


 Science, research and education


 Both sides reaffirmed their commitment to strengthen collaboration in the fields of education, research and innovation. They commended the joint initiatives aimed at fostering partnerships between institutions of higher education and medical training, as well as enhancing the faculty exchange programs, along with scholarship opportunities available to students and researchers from both countries.


 The two sides emphasized the need to bolster cooperation in artificial intelligence to advance a more open, trustworthy, and sustainable AI and discussed the upcoming AI Action Summit, which will be hosted in France on 10 and 11 February 2025. They also welcomed taking concrete steps to pave the way for investments in this field.


 Global issues, including climate change, biodiversity and access to clean water


 The two sides stressed the centrality of the UN Framework Convention on Climate Change and the Paris Agreement, as well as the importance to work in a constructive spirit to achieve an ambitious and balanced result at COP30 next year. In this regard, the Kingdom of Saudi Arabia recognizes France’s efforts in the context of the Paris Pact for the People and the Planet. The French side praised the Kingdom for the launch of the Saudi Green Initiative at the national level, and the Middle East Green Initiative. The two sides stressed the importance of international cooperation and joint work in international platforms, including the Clean Energy Ministerial Forum, the Mission Innovation Initiative, and the One Planet Sovereign Wealth Funds. France looks forward to the participation of the Kingdom of Saudi Arabia in Nice in June 2025, as France and Costa-Rica will co-host the 3rd UN-Ocean conference.


 The two sides committed to supporting solutions to the challenges related to the access to clean water and sustainable water management. In this respect, His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, and President of the French Republic Emmanuel Macron co-chaired, together with the President of Kazakhstan and the President of the World Bank, the “One Water Summit” on December 3rd, 2024, with a view to shape the agenda for international cooperation on water management and to finding solutions to reach the sustainable development goals on water, food security and energy. The Kingdom praised the French leadership in mobilizing for global water issues. The French side strongly valued the Kingdom's role in hosting the One Water Summit, and praises its efforts to contribute to a more efficient governance, as was evidenced by the launch of the Global Water Organization.


 In line with their commitment to support lowering emissions globally and incorporating climate considerations in investments, the two sides expressed their support to the coalition of the One Planet Sovereign Wealth Funds (OPSWF), where the 7th Annual OPSWF CEO Summit was held on December 3rd, 2024, in Riyadh, hosted by Saudi Arabia’s sovereign wealth fund (PIF). OPSWF Network has helped accelerate efforts to integrate climate change issues into the management of assets globally since 2017.


 Both sides also reiterated their support for stronger health systems across the world to strengthen our collective resilience to future pandemics, promote the One Health approach, and fight against antimicrobial resistance, to better prevent and prepare for future crises and emergencies. The two sides stressed their keenness to support global initiatives to confront current and future pandemics, risks and health challenges, and to work through the G20 to confront global health challenges. They expressed their aspirations to enhance cooperation in the fields of pharmaceuticals, developing vaccines, medicines and diagnostic tools, and the quality, safety and effectiveness of veterinary medical products. To this effect, they welcomed the opening of the WHO Academy in Lyon this December, to train health professionals from all continents. and acknowledged the Kingdom of Saudi Arabia’s alignment with WHO’s academic programs, and acknowledged the Kingdom of Saudi Arabia’s alignment with WHO’s academic programs.


 Defense and security


 The two sides reaffirmed the importance of their historical defense and security cooperation and their determination to develop cooperation and build sustainable strategic partnerships in the defense field in a way that serves and achieves the common interests of the two countries. They praised the level of security cooperation and coordination between them and expressed their desire to enhance it, especially in terms of training, expertise sharing, operation exercises, and also in the partnerships of defense capabilities to enhance the Kingdom of Saudi Arabia’s security. They also stressed the importance of combating all forms of crime, drug trafficking, terrorism and their financing, as well as cybersecurity.


 Regional and international situation


 The two sides reaffirmed their commitment to continue coordination and intensify efforts to ensure international peace and security, and exchanged views on issues of interest on both regional and international levels, and confirmed their commitment to enhance cooperation and coordinated efforts in this regard.


 On the regional level, the two sides expressed their deep concern over the overall regional situation, and the threats to its security and stability. They called on all actors to show restraint and to refrain from actions likely to compound the regional escalation, and stressed their commitment to continue working in favour of a regional de-escalation.


 Israel and Palestine


 The two sides expressed their grave concern about the dire humanitarian situation in the Gaza Strip, particularly in the North, the horrifying number of civilian casualties, especially women and children. They called for a permanent ceasefire, the release of all hostages, as well as the protection of civilians in accordance with international humanitarian law and international law. The two sides also stressed the urgent need to deliver humanitarian and relief assistance to the Palestinian people, in line with UN Security Council resolution 2735 and to enable international and humanitarian organization to do their work including the United Nations organizations, especially the United Nations Relief and Works Agency for Palestinian Refugees (UNRWA) and to support its efforts in this regard. The two sides denounced the Israeli Knesset’s decision to prevent UNRWA from operating in the occupied Palestinian territories and its decision to reject the establishment of a Palestinian state in contravention of UN Security Council resolutions. The two sides strongly condemned the ongoing extremist settler violence in the West Bank, including East Jerusalem, as well as the Israeli government’s decisions to further expand settlements and legalize settler outposts across the occupied West Bank. They condemned the repeated violations of the status quo on the holy sites in Jerusalem, expressing their categorical rejection of any attempts to change its historical, religious and legal status. They stressed the need to intensify efforts to reach a comprehensive and just resolution of the Israeli-Palestinian conflict settlement based on the two-state solution, the Arab Peace Initiative and the relevant UN resolutions, ensuring the two peoples to live side by side in peace and security. In this regard, the French side appreciated the Kingdom’s hosting of the Arab Islamic Extraordinary Summit held last month in Riyadh and decided to join the Global Alliance for the Implementation of the Two-State Solution, which was initiated by the Kingdom. With the aim of advancing the two-state solution, France and the Kingdom of Saudi Arabia will co-chair the High-Level International Conference on the peaceful resolution of the question of Palestine and the implementation of the two-state solution, to be held in June 2025, as decided by UNGA. In this regard, they will work jointly with all the partners on adopting an action-oriented measures towards the peaceful settlement of the question of Palestine and the implementation of the two-State solution. They also stressed the importance of unifying the Gaza Strip with the West Bank under the Palestinian Authority (PA), and the need for continued support to the PA.


 Lebanon


 The two sides emphasized their commitment to the security, stability, and unity of the Lebanese territory while preserving Lebanon’s sovereignty and territorial integrity. They expressed full solidarity with the Lebanese people during the current crisis and the need to implement United Nations Security Council Resolution No.1701, and stressed the importance of the role played by the Lebanese Armed Forces and the United Nations Interim Force in Lebanon (UNIFIL) in mitigating the risks of escalation. They reiterated the need to ensure full freedom of movement and access as well as security for UNIFIL. The two sides praised the cessation of hostilities arrangements brokered by France and the United States and called on all parties to implement it fully. They also stressed the need to consolidate the ceasefire. The two sides praised the success of the International Conference in Support of Lebanon’s People and Sovereignty. They stressed the importance of enabling the Lebanese state, through all its institutions, to fulfill its responsibilities and assert its sovereignty over all the Lebanese territory, and emphasized the critical role of the Lebanese Army in maintaining Lebanon’s security and stability. They stressed the need for the full implementation of the Taif Agreement and relevant international resolutions. They also affirmed their support for the efforts of (the Quint Group to support Lebanon), including its emphasis on the urgent need for the Lebanese leadership to accelerate the election of a president and implement necessary economic reforms to meet its responsibilities toward its citizens, and restore the Lebanese government’s authority throughout the country and support efforts to reintegrate Lebanon into the region, including initiatives aimed at fostering trust and cooperation with the Lebanese state.


 Yemen and the Red Sea


 The two sides reaffirmed their full support for the Presidential Leadership Council of the Republic of Yemen and stressed the importance of supporting UN and regional efforts to reach a comprehensive political solution to the Yemeni crisis. They recalled that only an inclusive and political solution under the auspices of the United Nations could bring peace and stability to Yemen. The two sides called on the parties, especially the Houthis, to engage in meaningful negotiations in order to achieve a sustainable peace in Yemen. The two sides stressed their support for the efforts of UN Special Envoy Hans Grundberg in this regard. The French side praised the Kingdom’s efforts and numerous initiatives aimed at encouraging dialogue and reconciliation among Yemeni parties and its role in providing and facilitating humanitarian aid delivery to all areas of Yemen.


 The two sides stressed the importance of maintaining the security and stability of the Red Sea region, where the freedom of navigation is an international requirement due to its global significance. They highlighted the necessity of protecting the region from any risks or threats that could impact regional and international peace and security, global trade, and the international economy.


 Iraq


 The two sides stressed their attachment and support to the sovereignty, stability and security of the Republic of Iraq. They expressed their support for the Iraqi government in its efforts to achieve the aspirations of the Iraqi people for security, stability, development, confronting terrorist groups, and preventing foreign interventions in Iraq’s internal affairs. They agreed on the importance of holding a third Bagdad Conference in the upcoming months to contribute to this end and to achieve regional stability and security.


 Sudan


 The two sides have called on the Sudanese Armed Forces and the Rapid Support Forces to cease hostilities, abide by their commitments under the May 11, 2023, Jeddah Declaration to protect civilians and to facilitate the rapid and unimpeded passage of humanitarian relief. They commended, in this regard, the recent commitments of the Sudanese Sovereignty Council to allow humanitarian operations from Chad to Sudan, through Adre, and the establishment of humanitarian supply hubs in El-Obeid, Kadugli and Ad-Damazin, which will facilitate the delivery of the humanitarian aid mobilized by the international community during the April 15, 2024, Paris Conference for Sudan and neighbouring countries. They renewed their call on all foreign actors to refrain from undertaking any action that would heighten tensions and fuel the conflict. They reaffirmed their commitment to support the resumption of a Sudanese-led political transition process towards a civilian government that preserves Sudan's security, stability and the unity of its constitutional institutions.


 Iran


 The French side encouraged the fact that the agreement in March 2023 between the Kingdom of Saudi Arabia and the Islamic Republic of Iran to resume diplomatic relations would effectively contribute to enhancing security and stability in the region. Both sides affirmed the necessity for Iran to fully cooperate with the International Atomic Energy Agency in order to ensure Iran’s nuclear program exclusively serves peaceful purposes, and the importance of reaching a diplomatic settlement to this issue addressing concerns of non-proliferation as well as regional and international security.


 Ukraine


 The two sides underlined their profound concern over the war in Ukraine, which is causing immense human suffering and impacting the global economy, especially in terms of food and energy security.


 They reaffirmed that, in line with the UN Charter, all states must refrain from the threat or use of force to seek territorial acquisition against the territorial integrity and sovereignty or political independence of any state. They underscored the need to reach, as soon as possible a comprehensive, just and lasting peace in Ukraine in line with the UN charter.


 The Saudi side commended France’s role in reaching a political solution to the war and to establish peace. The French side expressed its appreciation for the humanitarian and political efforts led by His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, in providing humanitarian aid to Ukraine and the release of several prisoners of war of various nationalities, and supporting efforts aimed at achieving peace.


 At the conclusion of the visit, President of the French Republic Emmanuel Macron expressed his gratitude and appreciation to His Royal Highness Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, for the warm reception and generous hospitality extended to him and his accompanying delegation, and his best wishes to the friendly Saudi people for further progress and prosperity. The President of the French Republic extended an invitation to His Royal Highness Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, to pay a return visit to France in the near future. His Royal Highness also conveyed his best wishes for good health and well-being to His Excellency President Emmanuel Macron and for continued progress and prosperity to the friendly French people.

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