JEDDAH: Saudi Arabia and Italy are set to strengthen their industrial and mining ties thanks to a visit by a senior official of the Kingdom to the European country.
Commencing his trip on Oct. 14, Saudi Minister of Industry and Mineral Resources Bandar bin Ibrahim Alkhorayef is set to explore mutual opportunities in key industrial sectors that align with the national strategy for manufacturing development, including the automotive, food, space, and marine industries.
The visit, which will continue until Oct. 16, includes stops in the capital, Rome, and Milan. It also aims to leverage the latest industrial innovation solutions and attract investments into promising sectors in Saudi Arabia, as stated by the Kingdom’s Ministry of Industry and Mineral Resources.
Saudi Arabia’s non-oil exports to Italy amounted to SR2.8 billion ($747 million) in 2023, while total non-oil imports from the European country reached SR21.8 billion during the same year.
The Saudi minister will engage with government officials and leaders in the private sector. He will also visit prominent Italian companies with the aim to facilitate knowledge transfer and smart manufacturing solutions for the Saudi industry while strengthening the economic ties between the two countries.
Alkhorayef is set to meet with Yousef Al-Mimni, vice chairman of the Saudi-Italian Business Council and will engage in discussions with Gilberto Pichetto Fratin, Italy’s minister of environment and energy security.
He is also scheduled to meet with Adolfo Urso, the minister of enterprises, to discuss enhancing industrial cooperation between the two nations.
Alkhorayef will further participate in a multilateral meeting organized by the Italian General Confederation of Industry, known as Confindustria, where he will engage with Barbara Cimmino, the federation’s vice president for export and investment attraction, along with prominent leaders from the Italian private sector.
The minister’s agenda includes a bilateral meeting in Rome with Toni Piech, chairman of Piech Automotive, a leading global automotive manufacturer, and Pierroberto Folgiero, CEO of Fincantieri, a company specialized in shipbuilding and marine products.
In Milan, Alkhorayef will kick off his visit with a tour of the Alessi Center, visit Leonardo’s aerospace division, and hold discussions with the company’s CEO.
The industry minister will also meet with Attilio Fontana, president of Lombardy’s regional government – whom he met in September – to explore ways to enhance bilateral ties in sectors crucial to the Kingdom’s Vision 2030 diversification strategy.
Alkhorayef is also scheduled to meet with Gianluca Di Tondo, CEO of Barilla, a leading food manufacturing company.
