Saudi Arabia and Italy Strengthen Industrial and Mining Ties
In a bid to enhance their industrial and mining relations, Saudi Arabia and Italy are gearing up for a significant collaboration with the visit of a senior Saudi official to the European nation.
Exploring Mutual Opportunities
Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef will embark on his journey on Oct. 14 to delve into potential collaborations in key industrial sectors aligned with the national strategy for manufacturing development. These sectors include automotive, food, space, and marine industries.
During his visit, which spans from Oct. 14 to Oct. 16, Alkhorayef will make stops in Rome and Milan to explore the latest industrial innovation solutions and attract investments into promising sectors in Saudi Arabia.
Building Economic Ties
In 2023, Saudi Arabia’s non-oil exports to Italy totaled SR2.8 billion ($747 million), while non-oil imports from Italy reached SR21.8 billion. The visit aims to strengthen economic ties between the two countries and facilitate knowledge transfer and smart manufacturing solutions for the Saudi industry.
Engaging with Government and Private Sector Leaders
Alkhorayef will engage with government officials, private sector leaders, and prominent Italian companies to enhance industrial cooperation. He is scheduled to meet with key figures such as Yousef Al-Mimni, vice chairman of the Saudi-Italian Business Council, Gilberto Pichetto Fratin, Italy’s minister of environment and energy security, and Adolfo Urso, Italy’s minister of enterprises.
Prominent Meetings and Collaborations
The minister will participate in a multilateral meeting organized by the Italian General Confederation of Industry, engage with leaders from the Italian private sector, and hold bilateral meetings with prominent companies such as Piech Automotive and Fincantieri.
In Milan, Alkhorayef will tour the Alessi Center, visit Leonardo’s aerospace division, and meet with Attilio Fontana, president of Lombardy’s regional government. The visit will also include a meeting with Gianluca Di Tondo, CEO of Barilla, a leading food manufacturing company.