13/11/2014
Al Otaishan meets with Italian Ambassador to the Kingdom for looking to strengthening economic ties
The Chamber Chairman Abdulrahman bin Saleh otaishan urged the Italian companies to identify business opportunities through collaboration and partnerships with their counterparts in Saudi Arabia, noting investment facilities development provided by the Kingdom to foreign investors. Al otaishan said during his meeting with the Ambassador of the Italian Republic to the Kingdom of Mario buffo on Thursday 13 November 2014 in the main headquarters in Dammam, economic and trade cooperation relations between the two countries and ways of strengthening and developing them. Al Otaishan said while talking to the depth of the relations between the two countries, referring to economic relations in a continuous growing business calling Italians to think of promoting joint investments in various fields through meetings with Saudi counterparts. The Italian Ambassador said that the investment environment in both countries stimulating, as well as the availability of financial and economic stability and the expansion of government spending on infrastructure, education, transport and communications, health, pointing out the need to intensify the exchange of trade delegations with a view to finding joint mechanisms to enhance trade and investment flows between the two countries.
In the same context, the volume of trade between Saudi Arabia and Italy about 54.5 billion in 2013, the trade balance surplus in favor of the ksa is estimated to be around 13.7 billion in 2013. Imports from Italy worth about 1.1 of the total value of imports from Italy, importing countries in 2013, representing more than 20 billion, constituting 3.2 of total imports from the world, in the same year. The value of imports to the Kingdom from Italy rose in 2013 with about 2 billion, compared with the year 2012, and about more than 7 billion riyals, compared to 2009.
The growth rate of imports to the Kingdom from Italy in 2013 rose with about 16.5 the previous year. The Kingdom of Italy also issued about 1.5 of the total value of exports to Italy, in 2013. The value of exports in the year 2013 is about more than 34 billion, which represents 2.4 of the total value of the Kingdom's exports to the world, in the same year. At the end of the meeting, Al otaishan honored that , Ambassador of the Italian Republic to the Kingdom Mario buffo with Memorial shield.
