(Adnkronos) – Italy and Saudi Arabia are working for peace, stability, trade and economic development in the Middle East through their “comprehensive, long-lasting and forward-looking” strategic partnership, foreign minister Antonio Tajani said on Tuesday.
“Our strategic partnership is comprehensive, long-lasting and forward-looking,” Tajani stated his opening address to a bilateral business forum in the Saudi capital, Riyadh.
Italy and Saudi Arabia “are working for peace and stability in this part of the world, and to promote growth, trade and development,” Tajani stated.
The two countries have been cooperating for over 90 years and have “excellent” relations, while bilateral trade is growing “at an exponential rate – by almost 40% in the past three years,” Tajani noted.
Italy wants to boost exports to countries like Saudi Arabia, which the government views as a key market for its action plan to bolster investments and trade, Tajani said.
“And through our know-how and the quality of our products, we want to ensure that the Saudis can also invest in Italy,” Tajani added.
“With today’s forum, we want to chart the course of our future collaboration,” said Tajani.
Tajani hailed Vision 2030, Saudi Arabia’s modernisation plan, which aims to diversify the petrostate’s economy, as “an exceptional model of development.”
“We want to continue together on the path that was opened with the historic decision by Crown Prince Mohammed bin Salman and Prime Minister Giorgia Meloni (at a summit in al-Ula a summit on 26 January) to establish a strategic partnership,” Tajani underlined.
“A strategic partnership is uncommon: it is a privileged relationship between friendly countries that share economic interests but also political and strategic ones,” he said.
Around 500 Italian firms and 450 Saudi companies are taking part in the bilateral business forum, which revolves round 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.
Italian companies are increasing stakeholders in flagship Vision 2030 projects, and the forum’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,” Tajani wrote Monday in an editorial for Saudi English language daily Arab News.
