ABU DHABI: Valerio Soldani, Italian Trade Commissioner to the UAE and Director of the Italian Trade Agency (ITA) Office, highlighted the long-standing ties between the UAE and Italy.
In his statement to the Emirates News Agency (WAM), Soldani said that the UAE market offers great opportunities for expansion with many planned projects, and these positive trends indicate ongoing possibilities for trade and cooperation between the UAE and Italy.
The trade exchange between the two countries has hit pound 7 billion in the first 10 months of 2023, up 6 percent year-on-year, he added, noting that their trade rose 19 percent in 2022 to over pound 8 billion.
Italy is the UAE’s second-largest supplier among the European Union (EU) nations, and there will be a further expansion in their trade relations, which depend on growth drivers such as innovation, sustainability, advanced technology, and quality of production, he further added.
Soldani stressed that the robust trade volume, collaborative initiatives, and promi
sing outlook present ample opportunities for bilateral cooperation between the two nations. He then underscored the active participation of Italian producers and companies in industrial expos and trade exhibitions in the UAE, reaffirming their commitment to enhancing trade relations across various sectors.
He also anticipated a robust market expansion with a projected compound annual growth rate of 12.7 percent over the next five years, unlocking new avenues for trade collaborations between Italian enterprises and their Emirati counterparts.
He then highlighted the active role of the ITA in supporting Italian businesses in the UAE through targeted promotional initiatives and tailored services, therefore enriching market offerings.
Source: Emirates News Agency