Italian Prime Minister Giorgia Meloni’s visit included a €10 billion package of agreements spanning energy, defence, and cultural heritage, alongside discussions on regional stability and international cooperation. Experts view this as a key step in aligning Italian priorities with the ambitions of Gulf nations
Strengthening Gulf ties. On Monday, Italian Prime Minister Giorgia Meloni concluded a three-day visit to Saudi Arabia, aimed at strengthening ties with the Gulf powerhouse.
- In Al-Ula, Meloni met Crown Prince and Prime Minister Mohammed bin Salman, signing a joint declaration to elevate the bilateral relation to a strategic partnership level.
- Their discussions covered regional and global issues, including achieving lasting peace in Ukraine, supporting Lebanon, promoting energy transition technologies, reconstruction efforts in Syria, and advancing a two-state solution for Israel and Palestine.
- Before departing for Bahrain, Meloni addressed Saudi Arabia’s potential participation in the Abraham Accords, emphasising the need to balance normalisation efforts with the Palestinian cause.
- Plans were also outlined for a sectoral business forum and a roadmap detailing shared priorities between the two nations.
- During her visit to Jeddah, Meloni toured the Nave Vespucci, a renowned Italian naval training ship making its first-ever stop in Saudi Arabia.
- Dubbed “the most beautiful ship in the world,” the vessel is on a global voyage showcasing Italian naval heritage.
€10 billion in agreements. Meloni’s visit resulted in nearly €10 billion worth of deals between Italian and Saudi entities, spanning energy, defence, logistics, and cultural collaboration.
- Leonardo expanded its partnership with Saudi Arabia’s Ministry of Investment and General Authority for Military Industries, laying the groundwork for collaboration on sixth-generation combat air systems and helicopters.
- Prime Minister Giorgia Meloni expressed Italy’s openness to Saudi Arabia’s involvement in the Global Combat Air Programme (GCAP), a trilateral Italian-Japanese-British initiative to develop advanced multi-role fighter jets, while emphasising that the process would be gradual, as Italy must first finalise the framework with the UK and Japan before enabling the Kingdom’s participation.
- Leonardo CEO Roberto Cingolani highlighted Saudi Arabia’s potential involvement in the GCAP.
- Fincantieri signed agreements with Aramco to enhance civilian shipbuilding and with Ozone for Military Industries Company to provide logistical support for military and civilian vessels.
- Elettronica signed two MOUs: one with SAMI-AEC for aerospace and defence opportunities and another with Shamal for electronic warfare training solutions.
- Ansaldo Energia and Saudi Arabia’s Acwa Power joined forces to develop renewable energy projects in Africa.
- Snam and Acwa Power partnered on the SoutH2 Corridor, exploring green hydrogen supply chains and developing ammonia terminals in Italy to facilitate hydrogen imports into Europe.
- Italy’s Ministry of Culture and the Royal Commission for Al-Ula launched a programme for cultural preservation, including archaeological research and museum management.
- Collaborations with the Archaeological Park of Pompeii aim to enhance heritage protection.
- SACE, Italy’s export credit agency, secured $6.6 billion in guarantees to support Italian exports and investments in Saudi projects.
- This includes $3 billion in financing for the NEOM megaproject, backed by nine international banks.
- CDP, Italy’s national development bank, signed agreements with the Saudi Fund for Development and Acwa Power to promote development projects in Africa.
- Gewiss announced an initial €20 million investment in Saudi Arabia to advance smart energy and electric mobility solutions.
Expert’s take from Rome. Arturo Varvelli, Head of the Rome Office and Senior Policy Fellow at the European Council on Foreign Relations, described the visit as a pivotal moment, noting the Indo-Mediterranean region’s renewed importance for Italy under the Mattei Plan for Africa.
- With Italy’s ambitious goals constrained by limited resources, collaboration with Gulf nations such as Saudi Arabia and the UAE is vital.
- Speaking to our sister website Formiche, Varvelli emphasised the importance of forging solid partnerships with regional players to enhance Italy’s influence in the area.
- He also pointed out that Gulf nations have become increasingly active on the African continent in recent years.
- According to Varvelli, a strong partnership with Saudi Arabia, particularly in energy, represents “a significant advantage for Italy in both economic and political terms.”
Expert’s take from Riyadh. Meloni’s visit marks “a key moment for our bilateral relations, consolidating a strategic partnership in crucial sectors such as energy, defence, and culture,” remarked Mohammed Alharbi, a Saudi expert in strategic studies, to Formiche.
- He further emphasised, “Italy is a key partner for the Kingdom, particularly in renewable energy. Our goal is to build a long-term partnership aligned with the objectives of Vision 2030.”
- As for investment opportunities, Alharbi highlighted the strong interest Italian companies have shown in Vision 2030, focusing on clean energy and infrastructure.
