Abu Dhabi, UAE – The Italian Trade Commissioner to the UAE, Valerio Soldani, has emphasized the strong and growing trade relationship between the United Arab Emirates and Italy. He highlighted the significant potential for further collaboration, driven by the UAE’s ongoing economic development and shared priorities in innovation, sustainability, and advanced technology.
Soldani pointed to the impressive €7 billion in trade exchange between the two countries during the first ten months of 2023, representing a 6% year-on-year increase. He further noted that bilateral trade reached over €8 billion in 2022, reflecting a significant 19% growth compared to the previous year.
Italy currently stands as the UAE’s second-largest supplier within the European Union, and Soldani expressed confidence in an even stronger future for their trade relations. He identified key drivers like innovation, sustainability, advanced technology, and high-quality production as cornerstones for this continued growth.
The Italian Trade Commissioner underscored the importance of existing collaborations and the promising outlook for the future. He pointed to the active participation of Italian companies in major industrial and trade exhibitions held in the UAE, demonstrating their commitment to strengthening trade ties across diverse sectors.
Soldani also projected a robust market expansion in the UAE, with a projected compound annual growth rate of 12.7% over the next five years. This growth, he believes, will unlock even more avenues for fruitful trade partnerships between Italian and Emirati businesses.