Paris: A Saudi delegation led by Crown Prince Muhammad bin Salman signed a series of agreements in Paris on Monday covering defence, artificial intelligence, tourism, infrastructure and cultural cooperation during the first meeting of the Franco-Saudi Strategic Partnership Council, following talks with French officials at the Élysée Palace.

The two countries agreed to extend their cooperation on the development of the ancient oasis city of Al Ula until 2035. The agreement will support projects in archaeology, culture, tourism, innovation, sustainable development and preservation of Al Ula’s biosphere. This is in the build up to the 2034 FIFA World Cup that is to be held in Saudi Arabia and that the kingdom hopes will boost its tourism profile. Financing arrangements include up to USD three billion for Saudi Energy and around USD five billion for projects including work on the Riyadh Metro and developments linked to the Saudi Expo 2030.

Another agreement covers a six billion euro investment project in Cergy Pontoise in the Paris region. The development is expected to create around 22,000 jobs through three theme and leisure parks, accommodation, dining facilities and housing.

During the Franco-Saudi Business Forum, CMA CGM and Red Sea Gateway Terminal signed a 434 million euro contract to develop Terminal Four at Jeddah Islamic Port.

French company Alstom secured a 500 million euros contract to supply additional trainsets for Lines 3 and 6 of the Riyadh Metro and agreed to support investment in a train assembly plant for Line Seven.

French nuclear fuel company Orano and Saudi mining firm Maaden signed a memorandum on technology development, while Mistral AI and HUMAIN agreed to cooperate on AI models and computing capabilities.

Saudi Arabia and France and signed an MoU on cooperation in artificial intelligence, quantum technology and other emerging technologies, with the intent to strengthen defence cooperation in training and military education.