This comes as NASA moves to decommission the International Space Station (ISS), which will be dismantled by Elon Musk's SpaceX in 2031.
NASA administrator Bill Nelson signed the agreement on behalf of the US, while Mohammed bin Saud al Tamimi, CEO of the Saudi Space Agency, signed for Saudi Arabia.
"I look forward to strengthening our cooperation for the future of exploration," said Nelson. "We are living in the golden era of exploration, one that is rooted in partnership. This new agreement outlines how we'll work together, and explore together, for the benefit of humanity."
The agreement was finalized within two months of Nelson's visit to Saudi Arabia, which was intended to fortify his relationship with the Middle Eastern nation. In the Axiom Mission 2 program, NASA collaborated with SpaceX and the Saudi Space Agency prior to the trip. Two Saudi mission specialists joined a crew of private astronauts on a journey to the International Space Station via a SpaceX Dragon capsule.
This new agreement acknowledges the significance of the Artemis Accords, signed into law under the Trump administration in Oct. 2020, which emphasizes the necessity of "transparent, safe, and responsible" space programs.
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