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US and Saudi Arabia sign 18 agreements in energy, investment

The United States and Saudi Arabia signed 18 partnership agreements in fields including energy, communications, space and healthcare during a visit by US President Joe Biden, Saudi state TV al-Ekhbariya reported.

The agreements include deals with US aerospace and defense firms Boeing BA.N and Raytheon RTN.N, as well as healthcare companies Medtronic MDT.N, Digital Diagnostics, and IQVIA, according to the Saudi state news agency (SPA).

There were also agreements in clean energy projects, nuclear energy and uranium, it said.

Wealthy Gulf OPEC members like Saudi Arabia and the UAE are investing in renewable and clean energy while also stressing the continued importance of hydrocarbons for global energy security at a time of growing calls for a shift away from fossil fuels.

The United States and Saudi Arabia have reiterated their commitment to the stability of global energy markets, during a visit by US President Joe Biden, a joint statement carried out by the Saudi state news agency (SPA) said.

In the statement released after Biden held talks with senior Saudi officials including Crown Prince Mohammed bin Salman, the United States also welcomed the kingdom's commitment to supporting balanced global oil markets in order to achieve sustainable economic growth.

The two countries agreed on consulting regularly on global energy markets in the short and long terms, and also to work together as strategic partners in climate and energy transition.

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