Saudi Assistant Defense Minister Talal Al-Otaibi visited Italy in May 2024.
The visit marked a pivotal moment in defense collaboration between the two countries, as he engaged with key players from Italian firms and shipbuilders.
Central to the discussions was the establishment of a joint venture (JV) with Fincantieri, aimed at enhancing the Royal Saudi Naval Forces (RSNF) capabilities.
The following note delves into several crucial aspects of this development, including:
- The current status of negotiations regarding the JV
- Key points of contention, and their impact on the JV
- The potential for local economic integration through the JV
The note also provides an update on Saudi Arabia's interest in procuring Todaro submarines.
