RIYADH: Economic relations between Saudi Arabia and Italy have entered a remarkable expansion phase, driven by the massive investments associated with Vision 2030, estimated at €7 trillion ($8.1 trillion) , making it one of the world’s largest investment plans, according to Matteo Zoppas, head of the Italian Trade Agency, speaking to Al-Eqtisadiah newspaper.
On the sidelines of the Saudi-Italian Investment and Business Forum, Zoppas stated that this level of spending offers vast opportunities for Italian companies, particularly in infrastructure, energy, water technologies, and industrial equipment — areas in which Italy possesses advanced expertise and technology.
Industrial sectors: Pillars of Riyadh-Rome relations
Zoppas explained that Italy is a leading country in industrial machinery technologies used in production, processing, and packaging. This presents Saudi Arabia with an opportunity to strengthen its focus on local manufacturing, in addition to the design, furniture, fashion, food, and automotive sectors, which form pillars of Italian industry and are receiving growing interest in the Saudi market.
He pointed out that partnerships between the two countries are already in place and gradually developing, with efforts to leverage Italian expertise in the 2030 projects, which will be a key driver of cooperation in the coming years.
Zoppas stated that the volume of trade exchange has witnessed remarkable growth, with Italian exports to Saudi Arabia increasing by 21 percent in 2024, exceeding €6 billion. The pharmaceutical sector, in particular, jumped by more than 121 percent compared to the previous year, making it one of the fastest-growing sectors between the two countries.
Building direct, growing trade relations
The head of the Italian Trade Agency confirmed that Italy ranks second in Europe in furniture exports to Saudi Arabia, after Germany, with only a slight difference in market share.
Regarding the forum’s outcomes, Zoppas expressed his expectation of greater convergence between government institutions and companies, which will contribute to providing a more suitable regulatory framework for business development. He noted that bringing producers and buyers together on a single platform paves the way for building direct and growing trade relations in the long term.
