Europa Posted on 2025-01-27 13:48:00

Italy, 10 billion USD agreement with Saudi Arabia - Aims to strengthen partnership in infrastructure, energy, defense

From Kristi Ceta

Italy, 10 billion USD agreement with Saudi Arabia - Aims to strengthen

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

Meloni met with Saudi Crown Prince Mohammed bin Salman in Al-Ula earlier in the day.

"There is great potential in our cooperation and my wish is that this visit opens a completely new phase in our partnership," the Italian leader said. "The joint declaration we signed today declares that our two nations can broaden their horizons and explore many new opportunities together," she added.

Meloni stressed that Italy and Saudi Arabia had signed "many agreements at the government level, but also memorandums of support signed by public and private entities during the visit."

She cited infrastructure, energy, defense, sports, entertainment, and tourism as areas where cooperation between the two countries could become “stronger, more effective, and deeper.” The leaders spoke about the energy transition and joint initiatives to promote sustainable progress in Africa, including the development of data centers.

During their meeting, Meloni and Mohammed bin Salman also discussed a "just and lasting peace in Ukraine," strengthening the ceasefire in Gaza, supporting reconstruction efforts in Syria and assisting Lebanon, the Italian prime minister's office said in a statement.

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