Saudi Gazette report Paris — Crown Prince Muhammad Bin Salman, deputy premier and minister of defense, held talks with French Prime Minister Edouard Philippe here on Monday. They reviewed cooperation in the fields of economy, trade and entertainment. Prince Muhammad dined with President Emmanuel Macron at Paris’s historic Louvre museum after flying in Sunday on his first trip to France as crown prince. Around 18 memorandums of understanding in energy, agriculture, tourism and culture are set to be signed at an official Saudi-France CEO Forum on Tuesday. “Prince Muhammad is strengthening ties with traditional allies US, UK and France,” Najah Al-Otaibi, a senior analyst at Arabia Foundation, told AFP. “Saudi Arabia needs French expertise as it opens up giant sectors to diversify its oil-dependent economy — entertainment, tourism and cinemas.” A Franco-Saudi cooperation deal to develop Al Ula, a Saudi city richly endowed with archeological remnants, is also expected to be a central highlight of the visit. Meanwhile, the 39th session of the Saudi-French Joint Business Council started in Paris in the presence of Minister of Commerce and Investment Majed Al-Qassabi and Minister of Transport Nabeel Al-Amoudi. President of the Council Mohammed Bin Laden said the volume of trade exchange between the two countries amounted to SR210 billion in five years. He said the Crown Prince’s visit to France will enhance the Kingdom’s efforts in diversifying the national economy, achieving the aspirations of Vision 2030 and attracting foreign investments. Saudi Ambassador to France Dr. Khalid Al-Anqari said the Saudi-French ties are strong and based on common strategic interests. He described the Crown Prince’s visit to France as important particularly as the Kingdom is witnessing a new phase of economic, social and political reforms. The Saudi Arabian General Investment Authority (SAGIA) said the total volume of French investments in the Kingdom exceeded SR80.1 billion. At present, French investments in the Kingdom is established in various sectors like energy, water and sanitation and pharmaceutical. There are 179 French licensed projects ranging from services, commercial, temporary, industrial and scientific and technical office licenses. The service sector occupied the largest share of 108 licenses, followed by 45 industrial licenses. France is among the targeted countries to attract specific investments in energy industry, food industry, IT, health, transportation and developing infrastructure.