Saudi Arabia, Italy Ink $10 Billion Cooperation Deal

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Saudi Arabia, Italy Ink $10 Billion Cooperation Deal

Source: Aar Riyadh newspaper, Arab news, Saudi Gazette, AL- Jazeera, Youtube

Saudi Arabia and Italy have inked a number of strategic cooperation and industrial agreements totaling almost $10 billion in an important step to improve their bilateral ties.

When the Italian Prime Minister visited Saudi Arabia and met with Crown Prince Mohammed bin Salman in the ancient city of Al-Ula, she announced this historic agreement.

His Highness the Crown Prince shook hands with the members of the official Italian mission while the Princes and Ministers were welcomed by the folklore ensembles that performed creative versions of the popular heritage on Saudi occasions.

An agreement to create the Strategic Partnership Council between the governments of the Kingdom of Saudi Arabia and the Italian Republic was signed by the Crown Prince and the Italian Republic's prime minister.

The  agreements significantlstrengthen the strategic alliance between the two countries and cover a wide range of industries, including infrastructure, energy, defense, sports, entertainment, and tourism.

During their meeting,  both discussed broader geopolitical issues, including support for a lasting peace in Ukraine and efforts to strengthen the ceasefire in Gaza, as well as reconstruction efforts in Syria and assistance to Lebanon.

 

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