RIYADH: The Council of Saudi Chambers of Commerce and Industry (CSCCI) and the Italian export credit agency SACE on Thursday signed a memorandum of understanding (MoU) on trade and investment cooperation, which is expected to support the Vision 2030 strategy.
Alessandro Decio, SACE chief executive, and Ahmed Al-Rajhi, CSCCI chairman, signed the MoU at the CSCCI headquarters in the Saudi capital in the presence of Italian Ambassador Luca Ferrari.
“Our trip to Saudi Arabia has been both productive and constructive and we have a feeling that the business opportunity is even better than we expected before we visited the Kingdom,” Decio told Arab News.
“The signing of the MoU is a significant opportunity for the Italian export credit agency to boost bilateral trade between Saudi Arabia and Italy,” he said.
Bilateral trade between the countries reached €8 billion ($10 billion) in 2017 compared to €6.7 billion ($7.8 billion) the previous year, according to embassy records.
Ferrari expressed optimism about the MoU and the visit of Italian company officials to the region.
“The fact that SACE is here today and signed an MoU with the Council of Saudi Chambers is concrete and tangible proof of the willingness of the Italian government to invest in Saudi Arabia,” he said.
He said that SACE bankrolled Italian firms intending to invest capital in the Kingdom and helped Saudi firms planning to invest in Italy. “It’s a two-way win-win situation for both the Saudi and the Italian governments,” he said.
KSA, Italy sign MoU to boost trade ties
KSA, Italy sign MoU to boost trade ties
Celestial spectacle in KSA’s north on first day of Ramadan
- Venus-crescent moon alignment visible in Northern Borders
- Meteorology center issuing swift weather alerts for pilgrims
ARAR/JEDDAH: The holy month of Ramadan has commenced in the Kingdom with a striking astronomical display in the Northern Borders Region, setting a serene tone for the month, the Saudi Press Agency reported.
In addition, the National Center for Meteorology has confirmed its readiness to support pilgrims in Makkah and Madinah.
On Tuesday evening in Arar there was a rare alignment of the planet Venus with the slender crescent moon marking the first day of Ramadan.
Appearing shortly after sunset, the crescent shimmered low on the western horizon above Venus — one of the brightest celestial bodies — in a display enhanced by clear skies.
While the conjunction is a recurring astronomical phenomenon caused by the apparent proximity of the two bodies as viewed from Earth, its coincidence with the start of the holy month added a special aesthetic and spiritual dimension to the atmosphere in the north, the SPA said.
Meanwhile, as the faithful began fasting, the NMC announced the readiness of its observatories at the Kingdom’s airports to manage increased flight traffic and ensure aviation safety.
The NCM’s CEO Dr. Ayman bin Salem Ghulam said there would be round-the-clock weather monitoring for Makkah, Madinah, and the roads leading to the two holy mosques.
To ensure pilgrims have real-time access to information, the NCM has integrated its data with the Nusuk and Tawakkalna smart applications. Ten-day forecasts and alerts will also be available via the Anwaa app and on guidance boards along highways.
The center has 14 media platforms to deliver swift weather alerts, ensuring high standards of security and logistical support throughout the season, the SPA reported.
