Italy has signed cooperation and industrial agreements worth around $10 billion with Saudi Arabia as part of a strengthened strategic partnership between the two countries, Italian Prime Minister Giorgia Meloni said on Sunday.

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

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,