As instructed by Minister Tajani, the Undersecretary of State for Foreign Affairs and International Cooperation, Maria Tripodi participated in the 4th Italian-Arab Business Forum, opening the session dedicated to economic-commercial relations with Saudi Arabia, which is this year’s guest of honour.
She said: “Saudi Arabia is a priority economic and commercial partner for Italy and this is testified by the success of Prime Minister Meloni’s official visit to Alula just two days ago, at the end of which a historic declaration was signed with Prince Mohammad Bin Salman, that raised our relationship to Strategic Partnership status. That decision – also symbolised by the docking of the Vespucci ship in Jeddah – crowned a solid foreign policy line, desired since the beginning of his mandate by the Deputy Prime Minister and Minister of Foreign Affairs, Antonio Tajani, who has always placed the strategy of growth diplomacy and the promotion of Italian products at the centre of his agenda.”
Bilateral economic relations are extremely promising. Trade, which is constantly increasing, exceeded EUR 10 billion in 2023 and SACE has rated Saudi Arabia as a “GATE” country (a Growing, Ambitious, Transforming and Emerging country) for our entrepreneurs. Furthermore, an increasing number of Italian companies have decided to discover Saudi Arabia, also thanks to the support of the Foreign Ministry. The “‘Saudi Vision 2030”, the government’s commercial penetration strategy for the next decade, has therefore enabled not only large groups in the oil and gas sector, but also SMEs in all the most innovative sectors, to contribute to strengthening this market so that Italy can become a privileged partner of the Saudi Kingdom to structure its industrial base and hence diversify its economy.
The Undersecretary concluded: “‘We want to create an increasing number of profitable collaborations in strategic sectors of mutual interest, including energy and the defence industry, boosting mutual investment also in third countries, especially in the framework of the Mattei Plan. The Italian government is committed to an ongoing dialogue with our companies, which are bearers of excellence, and which will always be able to count on the support of the Foreign Ministry to explore opportunities and grow in priority international markets, such as Saudi Arabia.”
The Italian-Arab Business Forum is an annual event organised by the Italian-Arab Chamber of Commerce, in cooperation with the Arab League and Unioncamere, under the Foreign Ministry’s patronage, and brings together entrepreneurs, senior government officials and investment agencies to concretely explore development opportunities for Italian companies in the extended Mediterranean region.
