Italy is discussing joint investments with Saudi Arabia in the automotive, mining, oil & gas, defense, hydrogen and space sectors, Industry Minister Adolfo Urso said on Monday.
Adolfo Urso
Italy is discussing joint investments with Saudi Arabia in the automotive, mining, oil & gas, defense, hydrogen and space sectors, Industry Minister Adolfo Urso said on Monday.
Since taking office in October 2022, Italian Prime Minister Giorgia Meloni has sought to forge closer ties with the Gulf.
Urso is visiting the Arabian Peninsula until Tuesday, with meetings in Qatar, Saudi Arabia and the United Arab Emirates.
“Italy and Saudi Arabia are committed to developing a regulatory and industrial framework that favors and accelerates strategic autonomy in the critical raw materials sector,” Urso said in a statement after a meeting in Riyadh with Khalid Al Saalem, president of the Royal Commission for Jubail & Yanbu, which helps oversee development of Saudi Arabia’s energy industry.
“We explored the possibility of partnerships and joint investments especially in the mining sector, both in our respective countries and in third areas, such as the African continent.”
Top representatives of companies including Pirelli , Maire Tecnimont and Prysmian attended the meeting, the minister added.
Investors on the Tel Aviv Stock Exchange (TASE) sent a strong signal of relief and optimism Sunday following the announcement of a ceasefire agreement between Israel and Hamas, coupled with the anticipated return of Israeli hostages from Gaza.
U.S. Secretary of State Marco Rubio is expected to attend a ministerial meeting to be held on Thursday in Paris with European, Arab and other states to discuss Gaza's post-war transition, three diplomatic sources said on Wednesday.
Tel Aviv stocks surged to record highs on Sunday, fueled by renewed optimism around U.S. President Donald Trump’s proposal to end the war in Gaza and secure the return of the remaining Israeli hostages.
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