The United Arab Emirates (UAE) are showing a growing interest in Italy. “The Emirati authorities have been pressing for a visit to Italy by the ruler of the country, Crown Prince Khalifa bin Zayed Al Nahayan. He wishes to establish direct relations with our premier and strategic links with the country as a whole”. Giorgio Starace, the Italian Ambassador to the Emirates, was speaking to PEI News during an event illustrating investment opportunities in Italy to the UAE press. The event was moderated by the Farnesina’s Principal Director for the Internationalisation of the Country System and Territorial Autonomies, Vincenzo De Luca.
Emirates are Italy’s leading trading partner in the Arab world
As De Luca explained, “We’re promoting this initiative with our Embassy in Abu Dhabi to illustrate to the Emirati media the great potential in bilateral relations, and the special relationship that’s developing between our two countries over EXPO 2015 in Milan and EXPO 2020 in Dubai”. Ambassador Starace added, “The Emirates are Italy’s leading trading partner in the Arab world. This is a country with not great, but huge, potential. It complements our market and has good air links. ‘System Italy’ and our embassy are working to provide a one-stop-shop for Italian businesses. We put them in touch with local actors to establish partnerships or foster investment”.
Emirates’ interest in Italy is growing
And the Emirates’ interest in Italy is growing. “We’ve been spending a lot of time on attracting investment by the big Emirati financial groups. This is a good time to do so because the recession period is over, while prices are still good”. As Starace concluded, “The result is that the sovereign funds are showing keen interest in the Italian market, and even keener interest in our executive”.