MILAN: The Saudi-Italian Business Forum, in Lombardy, emphasized the strengthening economic relationship between Saudi Arabia and Italy.
Led by Veronica Squinzi, Vice President for Internationalization at Assolombarda, and Waleed Al-Orainan, Secretary-General of the Federation of Saudi Chambers, the forum focused on enhancing collaboration and identifying new business opportunities between the two countries.
Squinzi highlighted the importance of government support in fostering international business, calling the forum a vital step toward building lasting partnerships.
Al-Orainan praised the historical ties between Saudi Arabia and Italy, dating back to the 1930s, and emphasized the mutual respect that underpins their cooperation.
Kamel Al-Munajjed, Chairman of the Saudi-Italian Business Council, expressed optimism about future collaboration, noting that strong foundations had been laid through previous high-level visits.
The forum showcased a promising landscape for business growth, with Maria Tripodi, Undersecretary of State for Foreign Affairs, noting that Saudi Arabia had become a priority partner for Italy.
Italian exports to Saudi Arabia surpassed €6 billion in 2024, marking a 27.9 percent increase from the previous year.
Tripodi highlighted Saudi Arabia’s status as the second-largest market for Italian exports in the region, with growing cooperation across sectors such as energy, infrastructure, and high-tech innovation.
The forum also spotlighted success stories of Italian companies in Saudi Arabia in areas including renewable energy, infrastructure, construction, and sports.
Barbara Cimmino, Vice President for Export and Foreign Investment at Confindustria, stressed the mutual benefits of the two countries aligning their strengths.
Discussions further addressed opportunities arising from Saudi Arabia’s Vision 2030 initiative, which seeks to diversify the Kingdom’s economy, creating new prospects for Italian businesses in sectors like technology, education, and public services.
[Reported by Arab News]
