Trump just signed billions in deals with Saudi Arabia, here's what you should know

U.S. President Donald Trump's visit to Saudi Arabia over the weekend is being hailed as "a turning point” in relations with Arab and Muslim countries.

Leaders from more than 50 Muslim majority countries were present to welcome Trump on his first international trip since taking office. 

While Trump's dance skills and First Lady Melania Trump's scarf-less head have drawn a great deal of attention, a lot of serious business was actually decided during the Arab Islamic American Summit in Riyadh - more than $380 billion in business to be exact. 

King Salman praised Trump and thanked him warmly for attending the summit, saying his presence reflects "the care given by His Excellency [Trump] and his country to this summit."

Saudi Foreign Minister Adel Al-Jubeir said that the president's visit marks “the beginning of a turning point” in relations with the Arab world, according to Arab News.

Here's an overview of the multi-billion dollar deals and other agreements that were made during the summit.

Of the multi-billion dollar agreements signed between Saudi Arabia and the U.S., $350 billion is for military arms, according to NBC News.

Some $110 billion of the deal is effective immediately, while the rest of the deal will be carried out over the next 10 years. The White House issued a statement saying the deal would "support the long-term security of Saudi Arabia and the Gulf region" and bolster "the kingdom's ability to contribute to counter terrorism operations."

Comparatively, under former U.S. President Barack Obama's administration, some $115 billion in arms deals moved forward from the start of Obama's term in 2009 through 2016. This was hailed as the "most of any U.S. administration in the 71-year U.S.-Saudi alliance," according to Reuters. 

As one the world's leading producers of oil, energy is the most important sector of Saudi Arabia's economy. The summit saw some $22 billion in deals signed between the kingdom and the American executives in the oil and gas industry.

"Today we are investing in long-term job creation and the future of the refining industry in the United States, and we are delivering on Vision 2030 to expand the US-Saudi partnership," Amin Nasser, president and CEO of state-owned Saudi Aramco said, according to Arab News. 

Less than a month ago, Aramco took 100 percent control of the largest oil refinery in the U.S – also the largest in the Americas. The energy deals come despite Trump's presidential campaign's calls to block all imports of Saudi oil.

The summit brought together Muslim leaders from the Middle East, North Africa and Asia. Prior to the summit, media reported that Trump's administration wants to set up an Arab or Muslim NATO. 

During the conference on Sunday, Trump said that his government aims to build a "coalition of nations" in the Middle East with the aim of "stamping out extremism."

King Salman and Trump both highlighted the threat of terrorism within the region during their addresses. They stressed the importance of working together in unity to combat regional security issues. 

The UAE and Saudi Arabia also pledged to give $100 million to a World Bank fund aimed at empowering women through entrepreneurship.

The fund is actually an idea inspired by Trump's daughter and close adviser, Ivanka. While she proposed the idea for the fund along with German Chancellor Angela Merkel, she is not involved with its operation, according to NPR. 

The UAE's Ambassador to the U.S. Yousef Al Otaiba said that the promised contribution demonstrates his nation's "commitment to empowering women in our region and builds on the progress we have made in our country, where women play a role in every segment of society." 

While Arab and Muslim leaders lavished praise on Trump during the summit, the U.S. president faces increasing controversy back home.

This month, Trump fired the Federal Bureau of Investigation Director James Comey, the man leading an investigation into allegations that the president's campaign officials colluded with Russia during the U.S. Presidential Election. Media reports have painted a stark picture of Trump's decision, leading many to suggest the president is covering for his misconduct. 

Despite the growing controversy back home, Trump has continued his international trip, landing in Israel on Monday. 

"We have before us a rare opportunity to bring security and stability and peace to this region and to its people," Trump said in a joint press conference with Israeli Prime Minister Benjamin Netanyahu, according to The Guardian. "But we can only get there working together. There is no other way." 

Media reports have suggested Trump is aiming to normalize relations between Israel and Gulf countries. Documents surfaced last week suggesting member states of the Gulf Cooperation Council were open to enhanced relations with the Israeli government if certain concessions were made. 

For his part, Netanyahu commented on Trump's arrival from Riyadh by saying: "I hope that one day an Israeli prime minister can fly from Tel Aviv to Riyadh."