MILAN: Italy signed agreements worth around $10 billion with Saudi Arabia as part of a strengthened strategic partnership, Italian Prime Minister Giorgia Meloni said after meeting Saudi Crown Prince Mohammed bin Salman. Among the deals, Italy's credit export agency SACE said it would provide loan guarantees worth 3 billion dollars for Saudi Arabia's NEOM real estate project.
"There is enormous potential in our cooperation and my wish is that this visit can open a completely new phase in our partnership," Meloni said following her talks with the de facto Saudi ruler in the Saudi oasis city of Al-Ula. "This is what the joint declaration we signed today foresees. It declares that our two nations can broaden their horizons and explore many new opportunities together." She cited infrastructure, energy, defence, sport, entertainment and tourism as areas where bilateral cooperation could become "stronger, more effective and deeper". Meloni said she backed Saudi Arabia joining the GCAP jet fighter programme, currently involving Italy, Britain and Japan, adding, however, that this would take some time. — Reuters
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