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France signs deals worth €10bn with Saudi

October 14, 2015 at 10:22 am

France has signed deals worth €10 billion with Saudi Arabia, French Prime Minister Manuel Valls said yesterday.

Valls, who is visiting the gulf kingdom, announced the deal on his official Twitter account saying it aimed to “mobilise our companies and employment”.

Saudi King Salman Bin Abdulaziz met Valls in his palace in Riyadh yesterday.

The Saudi Press Agency said the two leaders discussed bilateral relations and ways of enhancing them as well as the latest developments in the region.

Meanwhile, French Defence Minister Jean-Yves Le Drian announced during a press conference in Riyadh that the kingdom intends to purchase 30 French naval corvettes before the end of this year. France’s foreign ministry said in a statement that the deal includes the start of negotiations to provide Saudi Arabia with its own communication and observation satellites.

Valls arrived in Saudi Arabia on Monday after a regional tour that included visiting Egypt and Jordan.