Saudi Arabia and the U.S. are close to reaching an agreement on a bilateral deal after Washington's national security adviser made progress in discussions over the weekend, the White House said Monday.

White House national security spokesperson John Kirby said the two sides are "closer than we've ever been" on an agreement that is now "near final."

U.S. and Saudi negotiators are seeking to complete work on a bilateral accord that would likely call for formal U.S. guarantees to defend the kingdom as well as Saudi access to more advanced U.S. weaponry, in return for halting Chinese arms purchases and restricting Beijing’s investment in the country.

White House national security adviser Jake Sullivan held talks with Saudi Crown Prince Mohammed bin Salman and other Saudi officials over the weekend where progress was made, Kirby said.

The U.S.-Saudi security accord is also expected to involve sharing emerging technologies with Riyadh, including artificial intelligence.

Once the deal is completed, it would be part of a broad deal presented to Israeli Prime Minister Benjamin Netanyahu to decide whether to make concessions to secure a deal normalization relations with Saudi Arabia.

Kirby said the timing of a U.S.-Saudi deal was unclear. He said an ultimate objective for Biden is a Palestinian state, but with Israel carrying out attacks on Gaza, no deal on a state is likely any time soon.

"Of course, the president remains committed to a two-state solution. He recognizes that you know, that's not something we're going to see any anytime in the future," he said.