Upon the arrival of Saudi Crown Prince Mohammed bin Salman to the military base, Typhoon fighter jets performed a fly-past to welcome him along with a guard of honor while the national anthems were played.
Mrs May defended the UK's ties with Saudi Arabia earlier this week, saying all arms sales are strictly regulated.
During Wednesday's parliamentary debate on the issue, Prime Minister Theresa May underscored her government's support for the Saudi-led military campaign in Yemen, which she said has been supported by the UN Security Council.
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The crown prince, who is heir to his 82-year-old father, King Salman, said there were "huge opportunities" to boost trade between the two countries and they had to work together to deal with "failed states. terrorist and extremist organisations" in the Middle East.
Riyadh has been waging a war against Yemen since 2015. On Wednesday, hundreds turned out in London to protest arms sales and Saudi Arabia's role in the Yemen war.
Yemeni doctors treat a child injured by a Saudi airstrike on the northern Yemeni city of Sa'ada on March 7, 2018.
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However, the UK's opposition and aid sector have reacted angrily to the deal amid growing concerns over Saudi Arabia's war crimes in neighboring Yemen.
HSBC Holdings Plc Chief Executive Officer John Flint and Standard Chartered Group Plc CEO Bill Winters will be among several executives attending a closed-door meeting at the Saudi Arabian ambassador's residence in London to discuss topics including financing the future of the world's largest oil exporter, the people said, declining to be identified.
Downing Street said the framed document was originally created by Queen Victoria's consul general in Jeddah in 1880.
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James Denselow, the head of humanitarian policy and advocacy for Save the Children, said that despite glowing appraisals from Boris Johnson, the United Kingdom foreign secretary, Saudi Arabia had precipitated "a humanitarian disaster". The UK has, so far, sold more than six billion pounds of arms to Saudi Arabia.