MILAN: Government and business officials from Saudi Arabia and Italy are continuing talks, which began on Monday and ends on April 30, to cement economic and cultural ties between the two nations.
On Monday, Milan hosted the Saudi-Italian Business Forum in Lombardy.
Kamel Al-Munajjed, chairman of the Saudi-Italian Business Council, said that over 300 companies wanted to participate, signaling considerable enthusiasm for collaboration.
However, the organizers were only able to accommodate 150 companies, according to Al-Munajjed.
High-profile attendees included Saudi Arabia’s Ambassador to Italy Prince Faisal bin Sattam bin Abdulaziz Al-Saud, who underscored the significance of the visit to Italy.
Prince Faisal told Arab News the talks “reinforce” the commitment to advance the strategic partnerships signed previously by Crown Prince Mohammed bin Salman and Prime Minister Giorgia Meloni.
“The Saudi-Italian Business Council events in Milan and Turin lay the groundwork for future cooperation in energy, infrastructure, technology, renewable resources, and other strategic sectors.
“This initiative supports Saudi Arabia’s Vision 2030 and Italy’s industrial agenda, fostering long-lasting partnerships and new synergies,” said Prince Faisal.
Valerio de Molli, CEO and managing partner of The European House - Ambrosetti & TEHA Group, a leading management consulting firm in Italy, said there was significant potential for joint business ventures.
De Molli said that considerable expertise can be provided by his firm which organizes over 850 events annually, involving thousands of experts and entrepreneurs.
Members of Saudi Arabia’s delegation also expressed optimism about the talks.
Sultan Al-Mousa, a Saudi Arabia author and angel investor, said: “What I liked the most was the networking after we finished the forum itself. Everything was amazing.”
He added that he was looking for partnerships with Italian companies.
An Italian government official, Giorgio Silli, undersecretary of state for foreign affairs and international cooperation, thanked the Saudi-Italian Business Council for organizing the forum.
Silli said it was a “valuable platform for generating dialogue between our business communities.”
He said these meetings were “very important” on all levels and that commerce was the “glue” which connects the two countries.
“I am really in love with the Saudi culture. And I really think that together we can look to the future in a complementary way without forgetting who we are, which is our story.”
Antonio Franceschini, head of office at CNA, emphasized the importance of fostering connections between Italian and Saudi SMEs.
He said: “We think the very interesting opportunity between our countries is to develop and to share the experience in the sector of small and medium enterprises and the craft sector.”
Franceschini also announced plans for a new business mission in Riyadh next November.
Raffaele Cattaneo, undersecretary to the presidency of the Lombardy region with responsibility for international and European relations, highlighted the significance of the relationship between Italy and Saudi Arabia.
Cattaneo told Arab News: “Saudi Arabia is an open country with a lot of opportunities … This is another important step in the right direction.”
He stressed the need for cooperation to build bridges between Western and Eastern countries, promoting peace and prosperity through shared business interests.
Amanda Simoncelli, a student at Bocconi University, told Arab News about her research on the alignment of perceptions between Italian investors and Saudi policymakers.
“I think relations between Saudi and Italy are extremely important because we can create invaluable value for the entire community,” she said.
Elena Murelli, senator in the Italian parliament, highlighted the significance of the forum, saying: “It’s important because we have 90,000 companies in Italy, small and medium enterprises ... Saudi companies can invest in Italy and help these little companies to access new markets.”
