The trade relationship between the UAE and Italy is thriving, with a reported bilateral trade volume of approximately 4.8 billion euros in the first half of 2024, marking a 26% increase from the same period in 2023.
Edoardo Napoli, the Consul General of Italy in the UAE, stated that Italian exports accounted for about 3.8 billion euros, while imports reached 1 billion euros, resulting in a positive trade balance of 2.8 billion euros for Italy. This positions Italy as the 10th largest supplier to the UAE, with a 3% market share, and the second-largest EU supplier after Germany.
Photo: Dreamstime.
The growth in trade spans multiple sectors, including jewellery, construction, and technology, with forecasts indicating continued expansion.
To further strengthen these ties, Italy and the UAE are pursuing various initiatives, such as trade missions and exhibitions, to connect businesses in key sectors. The Italian Trade Agency is also focusing on innovative projects to promote high-quality Italian products digitally.
Napoli emphasised the importance of cultural exchange, highlighting ongoing initiatives to promote Italian culture and foster mutual understanding between the two nations.
Source: www.gulftoday.ae