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The President and HRH Prince Abdullah bin Faisal bin Turki Al Saud shared moments at the Saudi-Italian Business Council

26, 27 Jan
2009
Riyadh City

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Council of Saudi Chambers, Riyadh City- Al Suroor United Group President & CEO Sheikh Ali Bin Saeed Al Suroor had joined the 3rd Saudi-Italian business council held January 26-27, 2009 in Riyadh City. With HRH Prince Abdullah Bin Faisal Bin Turki Al Saud, Chairman of Saudi Italian Development Company (SIDCO) shared points of view and fruitful dialogues on this momentous occasion.

Participated by top executives from different companies in the Kingdom and invited Italian companies from different fields of operations and services. The event was organized to promote cooperation and investment opportunities between the amicable countries.

In 2007, Saudi-Italian Commercial Exchange reached to the peak. The total commercial exchange between the two countries reached EUR 6.6 billion, about 43% increase in 2003. While the Saudi vast imports also made big jump reaching EUR 3 billion when in 2006 was EUR 2.4 billion. Based on the recent comparative data collected by the Embassy of Italy and with the cooperation of E.U. Embassies in Riyadh, shows that Italy occupies the 1st place among all E.U. countries in terms of total Commercial Exchange in 2007 with Saudi Arabia. Approximately 17% of the total Saudi Commercial Exchange with the E.U. is with Italy. (Source: Embassy of Italy in Riyadh)

The data would show that the two countries have good relationship for many years now in terms of investment as well as in political and economic cooperation. Al Suroor United Group is importing high quality marbles made from Italy under Building Materials and Designs Services of the group. Further, the group has various imports of industrial products (global outsourcing) from Italy. This is our main trust with Italy companies. Together in the occasion, Italy Prime Minister Romano Prodi shaking hands with the President as part of the delegation.

The President & CEO is concurrently an active member of the Saudi- Italian Business Council. This is one among other organizations in business sector or in community services where he is connected with whether as head or executive member respectively.