MBS promises Trump $600b trade

Saudi Crown Prince Mohammed bin Salman promised on Thursday to pile $600 billion into US trade and investments as he congratulated Donald Trump on his return to the White House.

Prince Mohammed, de facto leader of the world's biggest oil exporter, made the pledge in a phone call following Trump's inauguration on Monday, Saudi state media said.

Trump forged close relations with Riyadh in his first term and is now expected to push Saudi Arabia, home of Islam's holiest sites, towards normalising ties with Israel as a major foreign policy objective.

"The crown prince affirmed the kingdom's intention to broaden its investments and trade with the United States over the next four years, in the amount of $600 billion, and potentially beyond that," the Saudi Press Agency reported.

It did not give details of the source of the funds, which represent more than half of Saudi GDP, or how they are expected to be used.

Prince Mohammed, 39, also passed on congratulations from his father, King Salman, during the call.

The White House said it was Trump's first phone call with a foreign leader since his return to office.

"The two leaders discussed efforts to bring stability to the Middle East, bolster regional security, and combat terrorism," a statement said.

"Additionally, they discussed the Kingdom of Saudi Arabia's international economic ambitions over the next four years as well as trade and other opportunities to increase the (two countries') mutual prosperity."

Trump's first visit as president in 2017 was to Saudi Arabia, and this week he joked that a major financial commitment could persuade him to do the same again.

"I did it with Saudi Arabia last time because they agreed to buy $450 billion worth of our product," he said. Trump quipped he would repeat the visit "if Saudi Arabia wanted to buy another 450 or 500 (billion dollars) -- we'll up it for all the inflation".

During Trump's first term, the United Arab Emirates, Bahrain and Morocco broke with longstanding Arab policy to recognise Israel under the 2020 Abraham Accords.