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Saudi Arabia, Italy ink $10bn industrial deals

2025-01-27
MILAN: Italy has signed cooperation and industrial agreements worth around $10 billion with Saudi Arabia as part of a strengthened strategic partnership between the two countries, Italian Prime Minister Giorgia Meloni said on Sunday.

Meloni met Saudi Crown Prince Mohammed bin Salman in Al-Ula earlier in the day.

`There is enormous potential in our cooperation and my wish is that this visit can open a completely new phase in our partnership,` Meloni said.

`This is what the joint declaration we signed today foresees. It declares that our two nations can broaden their horizons and explore many newopportunities together`.

Meloni said Italy and Saudi Arabia had signed `many agreements at government level but also supporting MoUs signed by public and private entities during the visit`.

She cited infrastructure, energy, defence, sport, entertainment and tourism as areas where cooperation between the two countries could become `stronger, more effective and deeper`.

During their meeting, Meloni and bin Salman also discussed a `just and lasting peace in Ukraine`, strengthening the ceasefire in Gaza, supporting reconstruction efforts in Syria and helping Lebanon, Italy`s PM office said in a statement.

-Reuters