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Italy and Saudi Arabia

Relations between Italy and Saudi Arabia are progressively expanding and strengthening at all levels, not only on the economic and commercial level. On the political level, both Italy and Saudi Arabia share the priority of contributing to the stabilization of the crisis theaters of the Middle East chessboard, favoring regional dialogue and diplomatic efforts promoted within the framework of the United Nations. This strong political, economic, commercial and cultural bond has found a recent synthesis in the signing of the Memorandum of Understanding for the bilateral strategic dialogue between Italy and Saudi Arabia, signed in January 2021 by the Hon. Minister of Foreign Affairs and International Cooperation, Luigi Di Maio.

For these reasons, Italy looks to Saudi Arabia as a leading partner, especially for the investment opportunities. In particular, those offered with the reform and project plan put in place with the VISION 2030 strategy, aimed to transforming the Saudi economy hitherto strictly dependent on oil and gas revenues, towards a service based economy, with a focus on tourism field and a growing role of start-up and SMEs engaged in sectors with high added value.

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