The Chamber of Commerce and Industry in Jeddah signed today a memorandum of understanding with Rome's Chamber of Commerce. The memorandum states the exchange of information in the fields of economy and commerce as well as information related to commercial laws and legalities in the two countries. It also enhances all forms of cooperation between the two countries including presentation of member companies in both chambers. The memorandum also stresses the need for organizing lectures, meetings and conferences as well as exchanging business visit, technology and expertise between Saudi companies and their Italian counterparts. As stated by the memorandum, the two chambers will support small and medium-sized businesses as well as other companies, consultation offices, organization and businesses to organize their own exhibitions whether they be local or international. Mazen Batarji, Deputy Chairman of the Board of Directors at Jeddah Chamber said that the amount of commercial exchange between the Kingdom and Italy reaches up to about 8.8 US dollars and that there are more than 80 Italian companies in business in the Kingdom. The memorandum also focuses on the elimination of dual taxation between the two countries.
