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Kingdom, Italy agree to strengthen bilateral trade, investment

Secretary General of the Council of Saudi Chambers (CSC) Dr. Saud Al-Meshari and Italian Ambassador Luca Ferrari meet at the CSC headquarters in Riyadh on Wednesday. (AN photo)
RIYADH: The Kingdom and Italy have decided to strengthen bilateral trade and investment through mutual dialogue.
According to an official from the Council of Saudi Chambers (CSC), the decision was reached during a meeting between CSC Secretary General Dr. Saud Al-Meshari and Italian Ambassador Luca Ferrari at the CSC headquarters on Wednesday.
During the meeting, Al-Meshari said Italy is one of the main trade partners to Saudi Arabia, and highlighted the significant role of the Saudi-Italian Business Council in enhancing joint investments.
He encouraged both sides to capitalize on investment opportunities as both countries possess economic openness and flexibility that are attractive to foreign investors. He also noted that Italy is popular with Saudi tourists.
Ferrari expressed Italy’s keenness on cooperating in investments with the Kingdom, and said his country wants to attract more Saudi investments, particularly in value-added projects.
Stressing the Italian business sector’s efforts and interest in strengthening relations with Saudis, he highlighted the attractive investment environment in Italy, and encouraged more trade visits between the two countries and increased cooperation in exchanging information about the latest business opportunities and technologies.
The two parties also discussed programs for the upcoming Saudi-Italian Joint Committee meeting in Rome this month. A good number of Saudi businessmen are expected to participate in this meeting, where new areas of cooperation could be identified.
The Italian presence in Saudi Arabia has grown over the past few years, with Italian companies active in all fields. Diplomatic ties were established in 1932 in Jeddah.

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