Saudi Arabia, Italy ink $10 billion cooperation and industrial deals

Saudi Crown Prince Mohammed bin Salman met on Sunday with Italian Prime Minister Giorgia Meloni in AlUla.

“The Crown Prince and the Prime Minister of Italy reviewed bilateral relations, explored ways to support and strengthen them across various fields, and discussed regional and international developments of mutual interest,” SPA said.

Meloni said Italy had signed cooperation and industrial agreements worth around $10 billion with Saudi Arabia as part of a strengthened strategic partnership between the two countries.

“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 new opportunities 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, defense, sport, entertainment and tourism as areas where cooperation between the two countries could become “stronger, more effective and deeper.”

During their meeting, Meloni and the Crown Prince also discussed a “just and lasting peace in Ukraine,” strengthening the ceasefire in Gaza, supporting reconstruction efforts in Syria and helping Lebanon, the Italian prime minister’s office said in a statement.