by Sebastien Goulard
The visit of Crown Prince Mohammed bin Salman to Paris on August 24 provided an opportunity to highlight the strong relations between France and Saudi Arabia and to reaffirm the strategic partnership between the two countries. The Saudi Crown Prince and the French President thus co-chaired the first meeting of the Franco-Saudi Strategic Partnership Council.
The meeting gave Paris and Riyadh an opportunity to reiterate their efforts to promote stability in the Arabian Gulf, as well as in Lebanon and Syria. France and Saudi Arabia have expressed their intention to position Syria as a hub between Europe, the Middle East and Asia by establishing “alternative corridors,” which suggests that there remains a strong interest in developing a network connected to the IMEC.
At the same time, alongside the meeting between the two leaders, several French and Saudi companies signed commercial and investment agreements. Among these was an agreement between CMA CGM and port operator Red Sea Gateway Terminal for the development and operation of a terminal at the Port of Jeddah on the Red Sea. Under the agreement, which provides for investments amounting to $434 million, the Port of Jeddah will see its annual capacity increase by 2.6 million TEUs, further consolidating the Saudi port’s status as a regional hub.
The tensions in the Strait of Hormuz are not regarded as temporary by either Paris or Riyadh. This is why the two countries seek to strengthen port infrastructure along the Red Sea.
Other agreements were signed during the Crown Prince’s official visit. While the French media placed considerable emphasis on future Saudi investments in the development of theme parks in the Paris region, other announcements focused on strengthening cooperation in key sectors such as energy and artificial intelligence.
France and Saudi Arabia appear determined to further strengthen their relationship, and IMEC seems to provide an ideal framework for achieving this objective, particularly by integrating other stakeholders such as Syria.
