Saudi Arabia, Italy to enhance industrial and mining collaboration
Saudi Arabia's non-oil exports to Italy reached $747 million in 2023
Dubai: Saudi Arabia and Italy are poised to enhance their industrial and mining collaboration following Saudi minister of industry and mineral resources to Italy.
Beginning on October 14, Saudi minister of industry and mineral resources Bandar Bin Ibrahim Al Khorayef will explore joint opportunities in key sectors aligned with Saudi Arabia's manufacturing development strategy, including automotive, food, space, and marine industries.
His visit, lasting until October 16, will cover key locations such as Rome and Milan, focusing on leveraging industrial innovations and attracting investments into promising sectors in Saudi Arabia, according to Saudi Arabia's ministry of industry and mineral resources.
In 2023, Saudi Arabia's non-oil exports to Italy reached $747 million (Dh2.7 billion), while non-oil imports from Italy totalled $5.8 billion (Dh21.3 billion).
During the visit, Al Khorayef will meet with government officials and private sector leaders, visiting major Italian companies to facilitate knowledge transfer and smart manufacturing solutions, thus strengthening economic ties between the two nations.
His agenda includes a bilateral meeting in Rome with Toni Piech, chairman of Piech Automotive, and Pierroberto Folgiero, CEO of Fincantieri, a shipbuilding and marine products company, as reported by Saudi new agency Arab News.
Al Khorayef will take part in a multilateral meeting organised by the Italian General Confederation of Industry (Confindustria), where he will connect with Barbara Cimmino, the federation’s vice president for export and investment attraction, along with other prominent leaders in the Italian private sector.