AlQa'dah 19, 1436, September 03, 2015, SPA -- Economic relations between the Kingdom of Saudi Arabia and the United States began on February 23 of 1930, and became closer in 1931 at the time of starting commercial flow of Saudi oil and the late King Abdulaziz bin Abdulrahman Al Saud's granting of the right of oil exploration to the American company (Standard Oil) with a 66-year contract . 1932 is considered as special year for the Kingdom of Saudi Arabia and the United States, where the two countries witnessed two important events, first: the unification of Saudi State under the name of Kingdom of Saudi Arabia, and signing of the interim trade diplomatic agreement between the two countries. The second was the US's breaking of its isolation from the outside world and its support for its companies and investments abroad. The number of US companies, which was founded in the Kingdom of Saudi Arabia during the seventies Hijra over (200 companies). The Arabian American Oil Company (Aramco), was formed and which was known later as (Saudi Aramco) and wholly owned by the Kingdom of Saudi Arabia. -- More 03:55 LOCAL TIME 00:55 GMT تغريد
