The bilateral relationship between the United Arab Emirates and Italy reached a new milestone as H.E. Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, and Giorgia Meloni, Prime Minister of Italy, witnessed the exchange of significant agreements and memoranda of understanding (MoUs) aimed at enhancing cooperation between the two nations. This key development took place during the UAE President’s state visit to Italy on February 24th.
Among the key agreements signed, a pivotal Memorandum of Understanding (MoU) was exchanged between the AIM (Annual Investment Meeting) Global Foundation, an INSME partner, and CONFAPI. H.E. Mr. Dawood Al Shezawi, President of AIM Global Foundation, and Mr. Cristian Camisa, National President of CONFAPI, formalized a partnership aimed at strengthening business collaboration between their countries.
CONFAPI, a strategic INSME member, represents a vast network of 116,000 industries employing over 1.2 million professionals in Italy. Also in attendance were SACE and Unioncamere, key INSME members in the country.
AIM hosts the Annual Investment Meeting Congress annually, with INSME participating in 2023, 2024, and the upcoming event in April 2025.
This landmark agreement is set to create new avenues for economic growth and investment opportunities. The MoU outlines key areas of cooperation, including facilitating market expansion, attracting investments, organizing business missions, and sharing industry insights. By working together, AIM Global Foundation and CONFAPI aim to support small and medium enterprises and drive sustainable economic growth through enhanced trade and investment initiatives.
In a significant move, the UAE pledged a $40 billion investment in Italy, marking a new chapter in economic relations. More than 40 agreements were signed, covering priority areas such as economy and investment, defense, energy—including peaceful nuclear energy—sustainable energy transition, and space. The leaders also explored mutual interests in artificial intelligence, infrastructure, civil aviation, healthcare, and cultural heritage, as well as opportunities for cooperation in Africa.
Trade between the two nations remains strong, with non-oil bilateral trade reaching $11.7 billion in 2023. Italy has increased its investment in the UAE by 50% over the past five years, signaling deepening economic engagement. Both sides agreed to advance trade relations through a High-Level Business Forum and discussed the UAE’s goal of strengthening its presence in European markets, with Italy’s support, by negotiating a comprehensive economic partnership agreement with the European Union.
In the field of advanced technology and space, Italy and the UAE agreed to expand cooperation, building on the UAE’s ambitious space programs, including the Emirates Mars and Lunar Missions. A new strategic partnership was established between Italy’s ENI and UAE-based entities MGX and G42 to advance artificial intelligence, expand data center capacity, and integrate sustainable energy solutions.
Climate action and sustainability remained at the forefront of discussions, with both nations stressing the need for international cooperation to combat climate change. The leaders reaffirmed their commitment to renewable energy development, including solar and wind projects, and emphasized achieving net-zero emissions targets by 2050.
The visit marked a milestone in UAE-Italy relations, setting the stage for deeper collaboration across economic, technological, and diplomatic fronts. With a shared vision for innovation and global stability, the two nations look ahead to an era of strengthened ties and mutual prosperity.
Source: INSME Secretariat
