RIYADH — The Saudi-Italian Joint Commission concluded on Monday here its 12th session under the co-chairmanship of Minister of Finance Mohammed Al-Jadaan and Italian Minister of Foreign Affairs and International Cooperation Luigi Di Maio.

Al-Jadaan pointed out that the Saudi-Italian Joint Commission has worked on many fronts and has accomplished a lot, particularly in the areas of trade, investment and finance; infrastructure and transportation; agriculture, water and environment; education, science and technology.

He also noted the positive role of the Joint Commission in developing economic, trade, investment and technical relations between the two countries.

Al-Jadaan stressed, during the meetings, that the Kingdom seeks always to be a key trading partner of Italy, and called upon businessmen in both countries to exert their utmost efforts to increase trade and investment flows between the two countries .

He also urged them to take advantage of the available opportunities, to increase the number and size of joint projects, particularly green investment opportunities offered by the Saudi Vision 2030, as well as in service sectors such as financial technology, entertainment and tourism.

“Recently, we have unlocked new opportunities for local and international investors while launching world-leading mega projects. On green transition, Saudi Arabia has become a global leader in shaping the future of sustainable development through the green initiatives,” Al-Jadaan added.

At the conclusion of the work of the 12th session of the Joint Committee, the two sides emphasized the common strategic interest to ensure peace and stability in the Gulf region, the Middle East and the Mediterranean basin.

The two sides also agreed on a number of measures to enhance cooperation in the fields of space, science and communication technology, culture, sports, energy, finance, investment, trade, transportation, logistics, and health.

The two parties expressed their appreciation for the role played by the participants in developing and consolidating cooperation between the two countries, and the need to develop an action plan to achieve the items under discussion.

They also agreed to hold the 13th session of the Joint Committee in Rome at a date to be agreed upon through diplomatic channels.

The work of the committee and the forum witnessed the signing of a memorandum of understanding between the Saudi Space Commission and the Italian Space Agency with the aim of enhancing cooperation in the field of space activities for peaceful purposes.

The events also witnessed the signing of a memorandum of understanding between the Federation of Saudi Chambers and the General Confederation of Italian Industry to establish a joint Saudi-Italian business council. 

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