Commerce Minister Dr. Majid Al-Kassabi Discusses Enhancing Saudi-Italian Economic Partnership In Rome

Dr. Majid Al-Kassabi, the Minister of Commerce and Chairman of the National Competitiveness Center, has wrapped up a two-day official visit to Rome. Accompanied by a high-level delegation, the visit aimed to strengthen economic ties between Saudi Arabia and Italy. The Saudi-Italian Business Forum was a key event, gathering 200 leaders from both public and private sectors.

The minister's itinerary included meetings with several Italian ministers. Discussions focused on enhancing trade cooperation and exploring mutual investment opportunities. Dr. Al-Kassabi met with Italy's Minister of Defense Guido Crosetto and Minister for Enterprises and Made in Italy Adolfo Urso to promote knowledge exchange between the private sectors of both nations.

During these meetings, promising opportunities under Saudi Vision 2030 were highlighted. Italian companies were encouraged to expand in sectors such as tourism, hospitality, architecture, fashion, retail, e-commerce, luxury mobility, and yachting. These discussions aimed at fostering stronger economic collaboration between the two countries.

The Saudi delegation also visited FENDI's headquarters in Rome. Dr. Al-Kassabi met with senior executives to learn about the company's global operations across 35 countries. The visit included a tour of "Palazzo della Civiltà Italiana," FENDI's main headquarters.

On the first day, Dr. Al-Kassabi held talks with Maria Elisabetta Alberti Casellati, Italy's Minister for Institutional Reforms and Regulatory Simplification. They discussed enhancing the business environment and streamlining regulatory procedures. The meeting also explored leveraging Italy's small and medium-sized enterprises model.

Further discussions involved Deputy Minister of Enterprise Valentino Valentini and Marco Osnato, Chairman of the Saudi–Italian Parliamentary Friendship Committee. They explored launching joint business accelerators and attracting Italian e-commerce companies to Saudi Arabia.

Diverse Delegation Participation

The Saudi delegation included senior officials from various ministries such as commerce, investment, industry, and mineral resources. Representatives from the Public Investment Fund, Saudi Red Sea Authority, National Competitiveness Center, Saudi Business Center, E-commerce Council, and other national companies were also part of the group.

The presence of Prince Faisal bin Sattam bin Abdulaziz, the Saudi Ambassador to Italy, underscored the importance of these meetings. His participation highlighted the commitment to strengthening bilateral relations through strategic partnerships in diverse sectors.

This visit marks a significant step towards deepening economic collaboration between Saudi Arabia and Italy. By focusing on key growth areas under Vision 2030 and fostering mutual investments, both nations aim to enhance their economic partnership for future prosperity.

With inputs from SPA