Italy signed agreements worth around $10 billion with Saudi Arabia as part of a strengthened strategic partnership, Italian Prime Minister Giorgia Meloni said after meeting Saudi Crown Prince Mohammed bin Salman.

ROME (Reuters) - Italy is in favour of Saudi Arabia joining the GCAP fighter jet programme, which currently involves Italy, Britain and Japan, Italian Prime Minister Giorgia Meloni said on Monday. Meloni, who was in Saudi Arabia over the weekend, said it would take time to open up the multi-billion-euro programme to a fourth nation.

Italy is a strong trading partner of Saudi Arabia's, and the two countries are eying cooperation on renewable energy.

Italian Prime Minister Giorgia Meloni met with Saudi Crown Prince Mohammed bin Salman on Sunday as she looks to boost ties with the oil-rich kingdom. The two signed a declaration that elevates the countries' bilateral relations to the level of a strategic partnership and initiates closer cooperation in an array of fields,

Italian insurer and export credit agency Sace said Sunday that it signed five accords worth $6.6 billion in Saudi Arabia.

The Ministry of Investment of Saudi Arabia, the GAMI, and Italian aerospace company Leonardo have signed a Memorandum of Understanding (MoU).

Italy cemented its strategic alignment with Saudi Arabia, signing agreements valued at approximately $10 billion. These accords encompass sectors like energy, defense, and real estate, with significant loan guarantees for the NEOM project,

Italy signed agreements worth around $10 billion with Saudi Arabia as part of a strengthened strategic partnership, Italian Prime Minister Giorgia Meloni said after meeting Saudi Crown Prince Mohammed bin Salman.