"The establishment of a permanent office for IBA is a reaction to the growing Italian-Saudi bilateral relations in the last few years," the ambassador said.

The envoy also conferred the Order of Merit of the Italian Republic on Shoura Councilman Osama Al-Kurdi for leading Saudi businessmen in founding the Saudi-Italian Development Company (SIDCO).

Al-Kurdi was the former secretary-general of the Council of Saudi Chambers of Commerce and Industry.

D'Auria said that in establishing a permanent office for IBA, the members realized the necessity of having a meeting place to exchange opinions on how to steadily improve relations with the Kingdom's business sector.For his part, IBA President Roberto Nannucci said the establishment of the headquarters was long overdue because the association was organized in the 1980s.

“Our aim in reviving the IBA is to boost ties between Italian and Saudi companies,” he said. “It was inactive for quite some time until we decided two years ago to revive it so that we would be in a better position to help Italian companies intending to do business in the Kingdom.”

Nannucci is the executive manager of the Construction & Development Corp.