The UAE has announced it will invest more than $40bn in Italy across key sectors.
The news emerged as UAE President Sheikh Mohamed bin Zayed Al Nahyan and Giorgia Meloni, Prime Minister of the Italian Republic, discussed cooperation between the UAE and Italy as part of the strategic partnership between the two countries.
More than 40 new agreements have been signed in total, starting the implementation of common goals and reaffirming the joint commitment to enhancing strategic cooperation across priority areas such as:
- Economy and investment
- Defence
- Energy (including peaceful nuclear energy, sustainable energy and energy transition)
- Space
- Cultural heritage
UAE-Italy investments
They also highlighted other sectors of mutual interest such as:
- Connectivity
- Infrastructure
- High-tech industry
- Artificial intelligence
- Water technology
- Information and communication technology
- SMEs and startups
- Agriculture
- Civil aviation
- Education
- Healthcare
The discussions took place during a meeting between the UAE President and the Italian Prime Minister at Chigi Palace in Rome as part of Sheikh Mohamed’s state visit to Italy.
Her Excellency welcomed His Highness and the accompanying delegation, expressing her hope that the visit would provide a strong impetus in advancing bilateral cooperation.
The two sides reviewed the ongoing development of their relations, particularly in the fields of economy, investment, advanced technology, artificial intelligence, renewable energy, and sustainability, in addition to cultural exchange.
They reaffirmed that their strategic partnership serves as a key framework to advance ties and fulfil the aspirations of their people for further growth and prosperity.
Sheikh Mohamed noted that UAE-Italy relations date back to the first year of the UAE’s founding as a nation and have grown over the years into a strategic partnership.
He affirmed the UAE’s commitment to achieving the aims of this partnership and elevating it to the level of a comprehensive strategic partnership to serve the interests of both nations and their peoples.
Sheikh Mohamed stated that non-oil trade volume between the two countries reached $14.1bn in 2024, marking a 21.2 per cent increase compared to 2023.
He emphasised that through enhanced cooperation, trade exchange between the two nations is expected to continue growing.
Sheikh Mohamed bin Zayed also highlighted the shared interests of the UAE and Italy in sustainability and renewable energy, in addition to artificial intelligence and innovation.
Additionally, Sheikh Mohamed underscored the cultural dimension of UAE-Italy relations and the two countries’ commitment to strengthening cultural exchange and collaboration while deepening people-to-people ties.
He expressed hope that the announced $40bn investment in Italy would contribute to the development and prosperity of both countries and their peoples.
Giorgia Meloni emphasised her country’s keenness to continue strengthening cooperation with the United Arab Emirates to serve shared interests.
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