French President Emmanuel Macron to visit Saudi Arabia in December

Saudi Foreign Minister Prince Faisal bin Farhan visits Paris with dozens of Saudi companies as the two countries seek to strengthen business ties

Saudi Foreign Minister Prince Faisal bin Farhan Al-Saud at the Arab-Islamic extraordinary summit held to investigate Israel's conflict with Hamas in Gaza and Hezbollah in Lebanon, in Riyadh, Saudi Arabia, November 11, 2024. REUTERSShow less

President Emmanuel Macron said on Friday he had been invited by Crown Prince Mohammed Bin Salman to visit Saudi Arabia for an official two-day visit in December during which he will attend an economic forum.

French officials hope to boost exports towards Saudi Arabia, which represent only half of the export volumes that go to the UAE, The National understands.

"This state visit will be an opportunity to strengthen the partnership between France and the Kingdom of Saudi Arabia," the president's office said in a statement after Mr Macron met a Saudi business delegation in Paris.

"On this occasion, [Mr Macron] will also participate in the One Water Summit, which will be held in Riyadh on December 3, on the sidelines of COP16 on the fight against desertification," they added.

Saudi Foreign Minister Prince Faisal bin Farhan was also in Paris on Friday to discuss strengthening cultural and touristic ties with France.

Companies represented at a lunch with Mr Macron included national petroleum and gas company Saudi Aramco and sovereign wealth fund, the Public Investment Fund, which is expected to open an office in Paris. Saudi investment minister Khalid bin Abdulaziz was also present.

"The objective of the lunch [was] to invite guests to strengthen their investments in France, particularly in technological fields (tech, AI, quantum), the ecological transition but also sports and tourism," the president's office said.

The French government is under pressure to curb its widening budget deficit, but this was not discussed during the meeting with Saudi officials.

Strengthening ties between French and Saudi economies is important to strengthen their resilience in a turbulent geopolitical context, Mr Macron told his guests.

Mr Macron stressed the advantages of labour reforms that he has implemented since he took office in 2017, while Saudi companies were invited to give their opinion on how attractive French and European markets are for exporters.

Saudi Crown Prince Mohammed bin Salman shakes hands with French President Emmanuel Macron at the Elysee Palace in Paris. (AP Photo/Michel Euler)

Saudi energy company Aqua Power expressed interest in joint French-Saudi investments in francophone African countries, including Senegal and Morocco, The National understands.

French direct investments in the Gulf reached €8.7 billion (about $9.47 billion) in 2021, a figure which is slightly above Gulf investments in France (€8.3 billion).

Separately, Prince Faisal discussed the advancement of Afalula, the French agency for the development of the ancient Saudi city of Al Ula, a flagship tourist project for the Kingdom launched in 2018.

It was the second meeting this year of the Saudi-French committee, which was also attended by Foreign Affairs Minister Jean-Noel Barrot, Culture Minister Rachida Dati, and her Saudi counterpart Prince Badr bin Abdullah bin Farhan Al Saud.

France's President Emmanuel Macron in Paris, France, 14 November 2024. EPA

Afalula's director, former Defence Minister Jean-Yves Le Drian, and Abeer Al Akel, CEO of the Royal Commission for AlUla, were also present.

They discussed the project's "future perspectives," said spokesperson for the French foreign affairs ministry, Christophe Lemoine. On the long run, the project will lead to a scientific cooperation on archaeological projects and the deployment of 120 French archaeologists on site.

Mr Lemoine said he was unable to confirm whether Mr Barrot and Prince Faisal also discussed the conflicts in the Middle East.