Saudi-Italian space agencies ink pact on cooperation

2 min read
The contracts are subject to final approval of RSG's board of directors.
  • Saudi Space Commission, Italian Space Agency sign an MoU to enhance cooperation in space-related activities for peaceful purpose
  • Federation of Saudi Chambers and General Confederation of Italian Industry ink an MoU to establish a joint Italian-Saudi business council

The Saudi-Italian Joint Commission concluded in Riyadh, its 12th session under the co-chairmanship of Mohammed Al-Jadaan, Minister of Finance of the Kingdom of Saudi Arabia and Luigi Di Maio, Minister of Foreign Affairs and International Cooperation of the Italian Republic.

The Saudi Space Commission and the Italian Space Agency signed a memorandum of understanding (MoU) for enhancing cooperation in the field of space for peaceful purposes.

The Federation of Saudi Chambers and the General Confederation of Italian Industry inked an MoU to establish a joint Italian-Saudi business council.

Al-Jadaan said that the Saudi-Italian Joint Commission has accomplished a lot, particularly in trade, investment, finance, infrastructure, transportation, agriculture, water, environment, education, science and technology.

He spoke on the positive role of the joint commission in developing economic, trade, investment and technical relations between the two countries.

During the meetings Al-Jadaan said that the Kingdom seeks to be a key trading partner of Italy and called upon Saudi Arabian and Italian businessmen to increase trade and investment between the two countries.

He said they should 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, and 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,” he added.

At the conclusion of the work of the 12th session, 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 space, science and communication technology, culture, sports, energy, finance, investment, trade, transportation, logistics and health.

The two sides 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 objectives.

They also agreed to hold the 13th session of the joint committee in Rome.