After a serene summer vacation and Ramadan period we are expected to resume our activities at full pace, albeit in a context of international financial crisis of which nobody knows the outcome.

However, we cannot but take pride in the results of the Italian-Saudi relations which, for the first semester 2008, show a reduction in our deficit, primarily due to a significant growth of exports (13% in comparison with the same period of the previous year).

In terms of commercial exchange, Saudi Arabia has confirmed its position as our first partner among GCC countries and the third one within the Arab world (after Libya and Algeria). Furthermore, some preliminary data seem to confirm Italy’s position in 2006 and 2007 as EU’s first commercial partner of Saudi Arabia and its fifth commercial partner worldwide.

The cultural and social initiatives launched in the previous months are progressing according to plan. Some highlights on the most important developments will be found in the “news” section of this website.

The significant results produced by our Visa Office - almost 20,000 visas issued in the period 1.1.2008 / 30.9.2008 - with a 47% increase over the figure of the same period last year – reflect the growing interest of our Saudi friends for Italy as a business and tourism country. We intend to introduce more improvements to our services in order to meet the special needs of Saudi companies and businessmen who have strong relations and frequent contacts with  our country.

Hopefully, the efforts made so far as to enforce agreements signed in the previous year could at last take a concrete form in the near future. As the meeting between the Minister of Foreign Affairs Frattini and his Saudi counterpart HRH Prince Saud Al Faisal demonstrates, the increase of opportunities for joint meetings at the political level are a particular point of endorsement.

In the following months, for instance, a number of commercial delegations from various regions in Italy are expected in the Kingdom. The objective of these delegations is to provide further momentum to their growing relations with Saudi partners and explore new joint business opportunities.

The tendency of heightened attention by the Italian business world towards this country found more concrete expression in the opening of new offices and spaces; the recently-inaugurated showroom in Riyadh hosting a prestigious Italian company in the sector of top quality furniture is just one example.

Eugenio d’Auria

Riyadh, October 2008

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