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

MILAN 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 on Sunday.

Meloni met Saudi Crown Prince Mohammed bin Salman in Al-Ula earlier in the day. “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, defence, sport, entertainment and tourism as areas where cooperation between the two countries could become "stronger, more effective and deeper".

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