المملكة: The Italian Prime Minister in Al -Ula .. Consult about developments and developing relationships

The visit of the Prime Minister of the Italian Republic, Georgia Miloni, reflects the Kingdom’s appreciation of the Italian government for the Kingdom’s political and economic status, its weight and its pivotal role at the regional and international levels, and the keenness of the leaders of the major countries to consult with the rational leadership – may God protect it – on the developments of events regionally and internationally.
The visit of the Italian Prime Minister to the Kingdom and her meeting with His Highness the Crown Prince – may God protect him – coincides with the political and military developments in the region, which requires consultation and coordination between the leaders of the two countries, in a way that enhances security and regional and international stability, especially with regard to international trade and energy security, and other issues Common interest.
The two countries support efforts to reach a comprehensive and fair settlement of the Palestinian issue in accordance with the principle of the two -state solution, the Arab peace initiative, and the relevant international legitimacy decisions, in a way that guarantees the Palestinian people the right to establish an independent state within the limits of 1967 AD and its capital is East Jerusalem.

The Saudi Joint Italian Committee

With regard to economic relations, the establishment of the Saudi -Italian Committee jointly in developing trade and investment relations between the two countries contributed to the provision of effective governance mechanisms to frame cooperation and joint work in order to achieve the aspirations of the two countries to advance bilateral relations between them to the level of strategic partnership.
The Kingdom constitutes the second commercial partner of Italy between the countries of the region, and the volume of trade exchange between the two countries in the year 2023 AD reached about 10.796 billion dollars, as the Kingdom imported from Italy a value of $ 5.85 billion, while in the same year it exported goods and products worth $ 4.921 billion, including them 737 million dollars, non -oil exports.
The two countries are working to enhance economic and investment relations and develop trade exchange between them, through the regularity of holding the joint business council meetings, intensifying the exchange of official visits and commercial and investment delegations, encouraging the establishment of joint projects, and holding commercial and investment events.

Live foreign investment

More than 150 Italian companies operate in the Kingdom, as the total balance of foreign direct Italian investment in the Kingdom is more than $ 4.6 billion.
The two countries also cooperate in the field of renewable energy, as the Kingdom invests in the transformation of carbon neutrality, while Italy has extensive experience in all types of renewable energy sources, and it looks to establish a long -term partnership with a future source of green hydrogen like the Kingdom.
The two countries aim to enhance their investment cooperation, as the Saudi -Italian Investment Forum, which was organized by the Ministry of Investment in partnership with the Italian Ministry of Companies and Products in the Italian city of Milan in September 2023 AD, witnessed the signing of 21 agreements and a memorandum of understanding in the fields of energy (traditional and clean), health, real estate, and waste management , And other fields.