Saudi-French Summit Discussed Regional Files and Their Balances and Diversification of Energy Supply Routes
After dedicating the first day of his sixth official visit to France since 2015 to attending the closing ceremony of the Esports World Cup, Saudi Crown Prince Mohammed bin Salman and French President Emmanuel Macron discussed regional geopolitical crises, the enhancement of economic ties, and the signing of several commercial agreements across various sectors.
In addition to reshaping the ongoing balance of power in the Middle East, talks between bin Salman and Macron, according to the Élysée Palace, covered bilateral agreements and key regional issues within the context of close coordination between France and its Gulf partners to promote stability and peace. Discussions also addressed the situation in Gaza, the two-state solution, the Lebanese file, and developments in Syria.
Bin Salman and Macron chaired the first meeting of the Saudi-French Strategic Partnership Council, established during the French president’s visit to Riyadh at the end of 2024. The prince’s visit also included an economic component, featuring a forum bringing together top French business leaders and Saudi officials to discuss diverse sectors such as energy, tourism, culture, artificial intelligence, video games, transport, and health.
The Saudi Crown Prince and the French president concluded their program with a French-Saudi Investment Roundtable, organized by the Saudi Ministry of Investment near the Élysée Palace, attended by officials and representatives from the business sectors of both countries to explore investment opportunities, economic cooperation, and new areas for partnership.
Concurrently with talks focused on Iran, a ministerial-level meeting was held to discuss diversifying energy supply routes, amid Iran’s closure of the strategic Strait of Hormuz since the start of its war with the United States and Israel.
Bin Salman attended the closing ceremony of the Esports World Cup in Paris yesterday alongside Macron. The event, organized for the first time outside Saudi Arabia, receives significant support from the kingdom. A source in the French presidency stated, “The choice of Paris by Prince Mohammed for this visit is an important indicator, testifying to the depth and vitality of French-Saudi relations.”
During the roundtable, Saudi Investment Minister Fahd Al-Saif announced that the stock of French foreign direct investment in Saudi Arabia stands at 16.3 billion euros, noting that France is the fourth-largest source of foreign direct investment, with its companies holding 650 investment licenses in the kingdom.
The Saudi Crown Prince has become a key interlocutor on Middle Eastern issues, ranging from the Iran file to the situation in Lebanon, as well as energy and defense, as France seeks to maintain its influence in the region while developing its economic relationship with the kingdom.
As bin Salman has successfully transformed himself into a strategic partner for major powers over the past few years, Paris closely monitors Riyadh’s strengthening of security ties with other powers, particularly following the signing of a joint defense agreement between Saudi Arabia, Turkey, and Pakistan in early August.
The two countries will also co-chair a conference to support the Lebanese army and the unity and territorial integrity of Lebanon, which was scheduled for March but postponed due to the outbreak of war in the Middle East following the first US and Israeli strikes on Iran in late February.
Economically, French companies are focusing on consolidating their position in major projects under “Vision 2030,” launched by Prince Mohammed bin Salman to diversify the kingdom’s economic resources and reduce its dependence on oil. The French also wish to participate in preparations for Expo 2023, hosted by Riyadh, as Paris seeks to attract more Saudi capital.
The Élysée Palace confirmed on Friday that “matters are still under discussion for some projects, but many commercial agreements will be signed across various sectors.”
A source familiar with the matter told Agence France-Presse in early August that a joint venture between France and a Saudi investment firm is “at a very advanced stage” to build a theme park in the Val-d’Oise department, near Paris, inspired by “Dragon Ball,” one of the world’s most popular Japanese anime and manga series.
