RIYADH, 3 June 2005 — Italy is interested in attracting Saudi students to its universities. Italian Ambassador to the Kingdom Armando Sanguini said: “My country is keen on strengthening its cultural cooperation with the Kingdom by attracting Saudi youths to do graduate and postgraduate courses in such fields as the preservation of antiquities and the promotion of domestic tourism.”
He added that the two countries could also benefit from sharing information in scientific research and information technology.
He said scientific centers in his country offered scholarships to young scientists to pursue their studies.
Sanguini said the two countries enjoy excellent relations and could promote a religious dialogue which could improve understanding of a number of problems in the Middle East including Palestine, Lebanon and Iraq.
The ambassador commended the Kingdom’s efforts in its fight against terrorism and pledged Italy’s full cooperation with the Kingdom in the struggle.
The Kingdom, he said, successfully countered terrorism by military and economic means — through choking the flow of funds to terrorists.
Speaking on Saudi-Italian relations, Sanguini recalled that the agreement on double taxation will soon be agreed upon by the two countries.
He said frequent exchange of delegations had stepped up political, parliamentary and economic cooperation between the two countries.
In 2004, bilateral trade between the two countries was 4.4 billion euros. Italian exports were valued at 1.47 billion euros and its imports from the Kingdom were estimated at 2.9 billion euros.
Currently there are 10 joint ventures in the Kingdom and Italian investment in joint ventures over the past two years has amounted to $5.5 billion.
“Italy’s global trade has gone up by 16 percent and the Kingdom’s exports to Italy has also shown a remarkable increase. This has paved the way for my country to increase its exports to Saudi Arabia to ensure a balanced growth in two-way trade” he said adding that a few Italian companies acquired contracts in the Kingdom for gas exploration and petrochemical projects.
A group of Saudi businessmen will visit Italy next month to explore possibilities for new business. The trip is being organized by the Saudi Council of Chambers of Commerce and Industry in cooperation with the Italian Embassy.
“We are making efforts to promote investment in both the countries with the assistance of Saudi Arabian General Investment Authority (SAGIA) and the Italian Foreign Ministry,” Sanguini said.
