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Saudi Arabia, Italy to enhance industrial ties during top official’s visit to European country

In 2023, Saudi Arabia's total non-oil imports from Italy came to SR21.8 billion, while its total non-oil exports to Italy came to SR2.8 billion

A senior Kingdom official is expected to visit Italy, strengthening Saudi Arabia’s mining and industrial ties with the European nation.

Saudi Arabia’s Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef intends to investigate opportunities for cooperation in important industries, such as the automotive, food, space, and marine sectors, which are in line with the country’s manufacturing development strategy, beginning his journey on October 14.

The tour, which runs through October 16, will stop in Milan, Rome, and the capital. According to the Kingdom’s Ministry of Industry and Mineral Resources, it also seeks to draw investments into Saudi Arabia’s promising industries and capitalise on the most recent industrial innovation solutions.

In 2023, Saudi Arabia’s total non-oil imports from Italy came to SR21.8 billion, while its total non-oil exports to Italy came to SR2.8 billion (USD 747 million).

The Saudi minister is scheduled to meet with both public servants and business executives. Along with fostering economic relations between the two nations, he will also tour well-known Italian businesses to support knowledge-sharing and intelligent manufacturing solutions for the Saudi industry.

Gilberto Pichetto Fratin, Italy’s minister of the environment and energy security, and Yousef Al-Mimni, vice chairman of the Saudi-Italian Business Council, are among the people Alkhorayef is scheduled to speak with.

To discuss strengthening industrial cooperation between the two countries, he is also expected to meet with Minister of Enterprises Adolfo Urso.

Additionally, Alkhorayef will take part in a multilateral gathering hosted by Confindustria, the Italian General Confederation of Industry. There, he will interact with notable figures from the Italian private sector as well as Barbara Cimmino, the federation’s vice-president for export and investment attraction.

A bilateral meeting in Rome between Toni Piech, chairman of Piech Automotive, a well-known international automaker, and Pierroberto Folgiero, CEO of Fincantieri, a business that specialises in shipbuilding and marine products, is on the minister’s agenda.

Alkhorayef will begin his visit to Milan by touring the Alessi Centre, stopping by Leonardo’s aerospace division, and having talks with the company’s CEO.

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