(Adnkronos) – Italy-Saudi Arabia collaboration is thriving in a raft of sectors – from sustainable infrastructure, mobility, urban design and advanced technologies, to clean energy, digital innovation, defence, security, culture and sport, with growing numbers of Italian companies doing business with the Kingdom, according to foreign minister Antonio Tajani.
“Italian companies are increasingly present across flagship Vision 2030 projects,” Tajani wrote Monday in an editorial for Saudi daily Arab News.
Tajani referred to Saudi Arabia’s ambitious blueprint to reduce its dependence on oil and gas revenues, creating jobs, and expanding industries such as tourism, real estate, mining and financial services.
Italian firms “are bringing world-class expertise in sustainable infrastructure, mobility, urban design and advanced technologies,” Tajani continued in the editorial.
The editorial came on the eve of a bilateral business forum in Riyadh, in which some 500 Italian firms and around 450 Saudi companies are taking part.
“Collaboration in clean energy, digital innovation, food security, sports and the creative economy continues to expand, reflecting a remarkable synergy between our economies,” Tajani stated.
Saudi Arabia is now the second-largest market for Italian exports in the Middle East-North Africa (MENA) region and in the past five years bilateral trade has surged by 67 percent and Italian exports have grown by nearly 20 percent annually, Tajani noted.
“The data speaks for itself,” Tajani wrote.
Italy views Saudi Arabia as key to its export plan for “high-opportunity non-EU” markets, Tajani underlined.
Energy and technological innovation “form another vibrant pillar of our cooperation” and Italian companies are “actively contributing” to Saudi Arabia’s renewables, hydrogen, smart grids and green fuels programmes, he stated.
“Defence and security have likewise become vital elements of our strategic partnership,” Tajani pointed out.
“It is with this spirit of ambition and optimism that we are co-organising the Italy-Saudi Arabia Business Forum in Riyadh. On Tuesday, I will travel to the Kingdom with a delegation of about 500 Italian companies and institutions,” Tajani declared.
The Riyadh forum will build on a roundtable held during premier Giorgia Meloni’s visit to the Kingdom in January and her talks with its de facto ruler Crown Prince and Mohammed bin Salman, he stated.
The forum will revolve around five sectors: infrastructure and sustainable mobility; health and life sciences; high-technology and digital solutions; agritech and water treatment; and the rapidly expanding industries of culture and sports, Tajani explained.
Italy’s goal is to connect Italian and Saudi businesses, “spark new partnerships and pave the way for long-term joint ventures and investments within Saudi Arabia’s giga-projects,” wrote Tajani.
“Together, Italy and Saudi Arabia can set a global example of cooperation, innovation and prosperity – for our nations, our region and the world,” he concluded.
