American military defense companies have agreed to immediately sell nearly $110 billion in equipment and services to the Saudi Arabian government as part of a long-term agreement inked Saturday by the Trump administration and the Arab kingdom.

The deal, formalized in a signing ceremony in the capital city of Riyadh, also calls for an expanded deal worth a total of $350 billion over ten years.

'That was a tremendous day,' President Donald Trump said at the top of a bilateral meeting with Saudi Crown Prince Mohammed bin Nayef.

'Tremendous investments in the United States. Hundreds of billions of dollars of investments into the United States and jobs, jobs, jobs.'

The State Department released a fact sheet that described the military hardware Saudi Arabia will buy as 'aerostats, tanks, artillery, counter-mortar radars, armored personnel carriers [and] helicopters.'

President Donald Trump (L) was welcomed Saturday by Saudi Arabia's King Salman bin Abdulaziz Al Saud (R), the first stop of Trump's first foreign trip since taking office in January

Trump and King Salman had a welcome ceremony inside the Royal Terminal of King Khalid International Airport after Air Force One landed

White House chief economic adviser Gary Cohn (right) told reporters that a series of defense contracts inked Saturday would mean 'a lot of money, big dollars' for American companies

President Donald Trump and the Saudi King gesture during a signing ceremony at the Saudi Royal Court in Riyadh on May 20

Separately, U.S. companies in the oil center stand to gain $22 billion in new deals with the state-owned oil company Saudi Aramco. And pacts with other companies could balloon that number as high as $50 billion.

House chief economic adviser Gary Cohn told reporters that the kingdom is 'going to hire US companies' for 'a bunch of infrastructure related things,' boasting that the deal is worth 'a lot of money. Big dollars. Big dollars.'

Saudi Arabia will 'invest a lot of money in the U.S. and have a lot of U.S. companies invest and build things over here,' Cohn said.

White House press secretary Sean Spicer claimed on Twitter that the $110 billion in immediate defense contracts represents the 'largest single arms deal in US history.'

Commerce Secretary Gary Cohn told reporters that U.S. companies would gain '23 new licenses, and then all of these contracts.'

'I can't imagine another business day that's been as good for the United States and the kingdom,' he said.

Donald Trump is in Saudi Arabia on the first of five stops during his inaugural foreign trip as president, getting chummy with King Salman bin Abdulaziz al-Saud and preparing to deliver a speech on Sunday that promises to frame his administration's relationship with the Muslim world.

Ivanka Trump and Jared Kushner arrive to attend the presentation of the Order of Abdulaziz al-Saud medal at the Saudi Royal Court

US President Donald Trump receives the Order of Abdulaziz al-Saud medal at the Saudi Royal Court in Riyadh on May 20

Ivanka Trump participates in a presentation ceremony of the kingdom's top civilian honor, the gold King Abdulaziz medal, to President Donald Trump

Donald Trump and First Lady Melania Trump make their way to a luncheon after Trump received the gold King Abdulaziz medal

The new defense deals are part of Trump's strategy to hold both the ISIS terror army and Iran's nuclear ambitions in check through the intervention of Middle Eastern partners instead of expensive American military deployments.

A White House official said Saturday that the purchases are meant to accomplish just that, for the sake of Saudi and regional security.

The official also said a strengthened Saudi military will be better equipped to contribute to counterterrorism operations across the region.

Trump and Salman signed a joint vision statement, nine separate defense cooperation pacts – including eight that are finalized – and a separate set of 'private sector agreements,' according to White House spokeswoman Sarah Sanders.

White House press secretary Sean Spicer claimed Saturday on Twitter that the agreements signed by the US. and Saudi Arabia constitute the 'largest single arms deal in US history'

Saudi Aramco will be relying on U.S. companies to build new oil rigs like this one in the Persian Gulf

The White House said the military equipment and services contracts will support 'tens of thousands of new jobs in the U.S. defense industrial base.'

Separately, a CEO forum being held on the margins of the Trump-Salman meeting resulted in $22 billion in new deals in the oil and gas sector, according to the event's organizers.

Saudi Aramco announced agreements with U.S. companies including Weatherford, Jacobs, Honeywell, McDermott, and Nabors.

The agreements will result in an unspecified number of new offshore Persian Gulf drilling rigs, at a time when the kingdom is pumping less oil to stabilize global prices.

Aramco appears to be planning for a future that will require greater crude production by gearing up to produce materials and equipment that had previously been imported.

Saudi Arabia's King Salman bin Abdulaziz Al Saud (right) welcomes DonaldTrump and first lady Melania Trump at the airport

Jared Kushner and Ivanka Trump were both seen arriving in the Middle East on Trump's first foreign tour since taking office