March 7, 2018 / 8:18 PM / 16 days ago

Britain and Saudi Arabia target 65 bln pound trade and investment ties

LONDON (Reuters) - Britain and Saudi Arabia set out an ambition to build 65 billion pounds ($90.29 billion) of trade and investment ties in coming years, London said on Wednesday, calling the agreement a vote of confidence in the British economy ahead of Brexit.

Britain's Prime Minister Theresa May greets the Crown Prince of Saudi Arabia Mohammad bin Salman outside 10 Downing Street in London, March 7, 2018. REUTERS/Simon Dawson

“The meeting agreed a landmark ambition for around 65 billion pounds of mutual trade and investment opportunities over the coming years, including direct investment in the UK and new Saudi public procurement with UK companies,” a spokeswoman from Prime Minister Theresa May’s office said in a statement.

“This is a significant boost for UK prosperity and a clear demonstration of the strong international confidence in our economy as we prepare to leave the European Union.”

($1 = 0.7199 pounds)

Reporting by William James; Editing by Andrew Heavens

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