- 9.5% year-on-year Increase in UAE-Italy Trade
The value of Italian direct investments in the UAE has reached €11.6 billion, according to the Italian Ministry of Foreign Affairs and International Cooperation.
While more than 600 Italian companies are operating in various economic sectors in the UAE.
Trade between the UAE and Italy in 2023 amounted to around €8.8 billion, a 9.5% year-on-year increase.
In the first half of 2024, trade between the two countries totaled €4.9 billion, showing a growth of over 25.8% year-on-year.
While exports saw a positive increase of 21.8% in the first quarter of this year.
Intesa Sanpaolo Supports Italian Direct Investments in the UAE
As part of the Italian government’s efforts to promote the food and agriculture sectors, Intesa Sanpaolo organized a seminar titled “Doing Business with the UAE”.
The seminar supports Italian small and medium-sized enterprises (SMEs).
Mentioning that it was held in collaboration with the Italian Embassy in Abu Dhabi and the UAE Embassy in Rome.
The seminar provided a unique discussion platform initiated by Italy’s leading banking group “Intesa Sanpaolo”.
The event benefited from the synergy with the diplomatic representations of both countries.
Featuring the participation of ambassadors Abdullah Al Suboosi and Lorenzo Fanara, along with economic and technical attachés from both diplomatic offices.
This initiative is part of a larger project undertaken by Intesa Sanpaolo to support the exports and investments of Italian SMEs.
Particularly in sectors of significant importance to the UAE market:
Food and beverages, agricultural technology, fashion, mechanical and electrical engineering, technology, furniture, pharmaceuticals, and healthcare.
“Your Future is Our Business” for Italian Direct Investments in the UAE
The cornerstone of the company’s program titled “Your Future is Our Business”.
It forms the basis of development strategies for client companies.
These companies can rely on €120 billion in funding until 2026 to support projects in priority areas.
Including Industry 5.0 transformation, energy, digital progress, loyalty, and growth in foreign markets.
Intesa Sanpaolo operates in the UAE through its external network’s Dubai and Abu Dhabi branches.
The group to support Italian companies through tailored advisory services with more than 300 foreign specialists.
The 2024 Talent Ranking Report issued by the International Institute for Management Development revealed that the UAE jumped 5 places in the ranking at once, maintaining its lead in the Arab world and rising to 17th place globally. pic.twitter.com/RAU4YFsYKN
— UAE Voice (@uae_voiceeng) October 8, 2024
Trade Exchange:
Key sectors for Italian imports from the UAE include metals, particularly precious metals.
As well as aluminum, refined oil products, crude oil, outerwear, footwear, jewelry, and gold products.
Italian direct exports to the UAE are led by jewelry and gold products.
Followed by mechanical machinery, footwear and leather goods, electrical appliances, and vehicles.
In addition to the oil sector, the UAE is increasingly focusing on promoting high-tech production, which will further define its trade and the country’s economic structure.
There are around 40 special zones in the UAE that benefit from advantages in taxation, administration, and logistics.
The sectors receiving the most government support include:
Manufacturing, especially food and agriculture technologies, metallurgy, chemicals, high-tech vehicles and machinery, aerospace, pharmaceuticals, and biotechnology.
