The UAE and Italy are strengthening their economic partnership and cooperation in the fields of renewable energy

Abu Dhabi – Mubasher: The United Arab Emirates and the Italian Republic discussed today, Thursday, in Milan, mechanisms for strengthening bilateral economic partnership and stimulating more mutual investments in many sectors of the new economy, especially in the fields of renewable energy, tourism and financial technology, which contributes to providing more new investment opportunities. To sustain economic growth by strengthening cooperation and establishing partnerships between the business communities and major companies in the two friendly countries, with the participation of the private sector.

Abdullah bin Touq Al-Marri, Minister of Economy, who heads the country’s delegation to Italy, held a number of bilateral meetings with ministers and officials in the Italian government, in addition to round-table meetings with businessmen and investors from the two countries to review current and future investment opportunities in various sectors, as a translation of the two countries’ declaration to upgrade their relations. to the level of a strategic partnership, according to the Emirates News Agency, WAM.

Bin Touq called on the Italian business community and companies to take advantage of the advantages and incentives offered by the national economy for growth and expansion in the UAE and the Middle East and Africa markets, including the global investment platform “Investopia”, which aims to create opportunities and enable future investments, in addition to the comprehensive economic partnership agreements concluded by the UAE. Under its umbrella are 4 agreements with India, Israel, Indonesia and Turkey, and it is in the process of signing with a group of strategic target markets during the next stage.

Abdullah bin Touq Al-Marri discussed ways to enhance aspects of joint cooperation between the two countries in various fields and sectors with a number of ministers and officials in the Italian government, namely, “Antonio Tajani, the Italian Minister of Foreign Affairs, Giancarlo Giorgetti, the Italian Minister of Economy and Finance, Daniela Santanke, the Italian Minister of Tourism, and Anasio La Rosa, President of the Italian Senate.” “.

Abdullah bin Touq Al-Marri stressed that the close cooperation relations between the UAE and Italy are based on a large balance of historical and strategic partnership, and the economy is one of its main engines to push the paths of joint economic cooperation to unprecedented levels.

He said that the visit of the state delegation, with the participation of 50 representatives of the government and private sectors, including investors and businessmen, to the friendly Italian Republic aims to intensify the momentum of economic and trade relations, stimulate the flow of mutual investments between the two countries during the next stage, and translate the directives of the wise leadership to upgrade bilateral cooperation to the level of a comprehensive economic partnership. Serve the business community and work to achieve the sustainable development goals of both countries.

He added that the UAE and the Republic of Italy are linked by deep and solid historical relations and ties that are witnessing continuous development, with the support and care of the leaderships of the two friendly countries, towards more momentum levels of partnership at all levels in order to achieve more development and prosperity for their two friendly peoples.

Abdullah bin Touq noted that the UAE and Italy share a common vision towards many issues at the regional and international levels, based on giving priority to dialogue and resorting to constructive diplomacy to address regional and international issues.

During the meetings, he stressed the importance of the session, which will be launched by the global investment platform “Investopia” tomorrow in Milan, Italy, in stimulating investments and encouraging business communities to explore more promising opportunities in the sectors of the new economy, inviting the Italian Minister of Foreign Affairs to attend the next conference of the platform in 2024.

He stressed the keenness to expand and diversify the umbrella of the existing trade and investment partnership between Abu Dhabi and Rome and to create new opportunities for constructive economic cooperation between the two countries that support their aspirations to build a new knowledge-based economic model that is more flexible and competitive and provides sustainable job opportunities.

He pointed out that the development of the tourism sector is one of the main priorities on the agenda of the UAE government, as it is a major supporter of the national economy, and expressed his aspiration to exchange experiences with the Italian side to support the sustainability of the growth of the tourism sector, and its governance in accordance with international best practices followed to enhance the UAE’s leadership on the international tourism map. .

Bin Touq discussed with the Italian Minister of Foreign Affairs ways to strengthen joint cooperation between the UAE and the Republic of Italy in areas of common interest and to advance bilateral cooperation relations towards broader levels that support the economic partnership between the two countries.

They discussed with the Italian Minister of Economy and Finance ways to strengthen joint cooperation in priority sectors, and agreed on the importance of exploring more promising investment opportunities in the markets of the two countries, especially in the sectors of the new economy, particularly the financial sector and finance, advanced technology and science, industry, renewable energy, and e-commerce. logistics and supply chains as well as further strengthening cooperation in the areas of climate change, sustainable agriculture and agricultural innovation, food security, circular economy and other areas of common interest.

Abdullah bin Touq Al-Marri discussed with the Italian Minister of Tourism mechanisms to stimulate mutual investments in innovative tourism projects, and steps to increase mutual flights, which reached about 45 flights per week, starting from January 2023 until now, in a way that contributes to stimulating the movement of tourists between the two countries. In the UAE, more than 170,000 Italian tourists spent 954,000 hotel nights during 2021.

For her part, the Italian Minister of Tourism affirmed her country’s keenness to enhance cooperation with the UAE in various fields, especially tourism, which is one of the important tributaries in supporting economic growth and joint work to launch tourism projects and initiatives that would attract more investments in both countries.

The Minister of Economy discussed with Ignacio La Russa, President of the Italian Senate, ways to strengthen the bonds of joint cooperation between the UAE and the Republic of Italy in the parliamentary field, and raise them to broader levels.

Tomorrow, in the Italian city of Milan, the “Investopia Europe” event will be launched, which is the first event to be launched by the global investment platform “Investopia” for the year 2023, after its annual conference was held last March.

The event aims to promote discussion and stimulate global investment in fast-growing sectors, especially the new economy, the circular economy, family businesses, and creative industries, and to identify future global investment trends. More than 250 leaders, businessmen, investors, entrepreneurs, and economists from around the world participate in the event.