Italian-Saudi Business Council Strengthens Strategic Partnership

Italian-Saudi Business Council Strengthens Strategic Partnerships Across Key Sectors

30 Apr, 2025

The Italian-Saudi Business Council meetings in Milan and Turin mark a pivotal step in strengthening the newly elevated strategic partnership between Italy and Saudi Arabia. Italian Undersecretary for Foreign Affairs Maria Tripodi emphasized the strong and growing relationship, noting the recent bilateral summit and the signing of a joint declaration. Italy’s exports to Saudi Arabia surpassed €6 billion in 2024, reflecting a remarkable 27.9% increase, the highest growth in the MENA region. Kamel Almunajjed, President of the Italian-Saudi Business Council, highlighted the significance of the 26 agreements worth over €10 billion, covering sectors like clean energy, manufacturing, and technology. A major focus is the plan to export 1.2 million tons of green hydrogen annually from Saudi Arabia to Europe by 2030. In addition, partnerships with Italian companies like Leonardo and Prysmian are advancing in the industrial sector. Cooperation is also extending into Africa, with Saudi Arabia planning $40 billion in investments and Italy’s Mattei Plan offering strategic support. The India-Middle East-Europe Corridor (IMEC) project, valued at $20 billion, is expected to revolutionize logistics by reducing transport time between India and Europe by up to 40%. Saudi Arabia’s ports, including King Abdulaziz Port and Jeddah Islamic Port, alongside Italy’s Trieste Port, are being developed into major logistics hubs. Beyond trade and infrastructure, cultural and educational ties are expanding, with a new academic exchange program starting in 2025 involving more than 500 students and professors annually. Cultural collaborations through museum and archaeological initiatives further deepen bilateral engagement. Saudi-Italian cooperation is positioned not just as a bilateral model but as a platform for broader regional integration aligned with Vision 2030 and Italy’s strategic priorities. With these developments, the partnership is poised to drive major economic growth, innovation, and connectivity between Europe, the Middle East, and Africa.