UAE to invest $40 billion in Italy across key sectors, over 40 new agreements signed

Within the framework of the state visit of the President of the United Arab Emirates (UAE) to Italy from February 23rd to 24th, Her Excellency Giorgia Meloni, President of the Council of Ministers of Italy, welcomed His Highness Sheikh Mohamed bin Zayed Al Nahyan.

Both leaders expressed their appreciation for the long-standing historical ties between the two countries and welcomed the significant progress made in bilateral diplomatic and economic relations since President Meloni's visit to the UAE in March 2023. At that time, the two leaders decided to elevate bilateral relations to a strategic partnership.

Looking ahead, the two leaders expressed their shared desire to further strengthen this partnership, moving towards a comprehensive strategic partnership. In this context, the UAE announced its commitment to invest $40 billion in key sectors of the Italian economy.

Within this framework, more than 40 new agreements were signed, thereby initiating the implementation of common goals and reaffirming the shared commitment to strengthen strategic cooperation in priority areas, such as: economy and investment, defense, energy (including peaceful uses of nuclear energy, sustainable energy, and energy transition), space, and promotion of cultural heritage. They also highlighted other areas of common interest, such as connectivity, infrastructure, high-tech industries, artificial intelligence, water technologies, information and communication technologies, SMEs and startups, agriculture, civil aviation, education, culture, and healthcare. The two leaders also explored opportunities for cooperation with other partners, particularly in Africa, and exchanged views on regional developments.

The state visit of His Highness Sheikh Mohamed bin Zayed Al Nahyan to Italy and President Meloni's three visits to the UAE mark the dawn of a new era in UAE-Italy relations, which will further enhance bilateral ties and promote shared prosperity, peace, and innovation on a global scale.

Noting the significant growth in bilateral trade, the two leaders expressed their appreciation for the expanding economic ties and emphasized that trade continues to develop steadily despite global challenges. Trade between the two countries remains robust, with non-oil bilateral trade reaching $11.7 billion in 2023. The UAE and Italy also expressed their commitment to expanding investment flows, noting that Italy has increased its investments in the UAE by 50% over the past five years. This new phase of cooperation will focus on strengthening investment opportunities in key sectors such as energy, technology, and advanced manufacturing.

Both sides agreed to advance trade relations through the organization of high-level business forums, which will serve as a platform to deepen economic cooperation and explore new investment opportunities in areas such as sustainable energy, connectivity, defense, water, artificial intelligence, and advanced technologies.

The two leaders emphasized Italy's key role in the European economic landscape and discussed the UAE's goal of expanding its influence in the European market through the negotiation of a Comprehensive Economic Partnership Agreement (a bilateral free trade agreement) with the European Union (EU), with Italy's support. They also highlighted the role of Italy and the UAE as logistical hubs and stepping stones for global connectivity, strengthening trade and investment links between Europe and the vibrant economies of Asia. This cooperation underscores the importance of Italy and the UAE as strategic partners for innovation, sustainable economic development, and technological exchange, thereby establishing deeper connections between Europe, the Middle East, and Asia, especially within the framework of IMEC.

The two leaders recognized the strong people-to-people connections between the UAE and Italy, acknowledging the positive impact of cultural exchanges, academic partnerships, and tourism. The two leaders commended the Italian community residing in the UAE and the UAE nationals residing in Italy, noting that their contributions play a crucial role in fostering strong cultural and educational links between the two countries. The two leaders agreed to facilitate greater mobility for students, tourists, and business professionals, thereby enhancing future bilateral exchanges. They emphasized the importance of further strengthening these exchanges under the existing strategic partnership. The two leaders also expressed their commitment to strengthening partnerships to promote tolerance, inter-religious and intercultural dialogue, and to jointly address extremism, racism, and hate speech, in accordance with the provisions of Security Council Resolution 2686.

Both sides agreed to explore new opportunities for collaboration in the fields of arts, heritage preservation, and tourism.

In the scientific field, the two leaders expressed a shared commitment to advancing space exploration and promoting innovation in advanced technologies. As both countries are at the forefront of space and scientific research, the UAE and Italy agreed to explore new avenues for cooperation.

The two leaders agreed to further strengthen cooperation in the fields of science, technology, and innovation, recognizing Italy's technological advancements and the UAE's ambitious initiatives, such as the Emirates Mars Mission (Hope Probe) and the development of space exploration programs, including recent collaboration on the Emirates Asteroid Belt Mission, the Emirates Lunar Mission, and the Rashid Rover. Both countries pledged to share knowledge, expertise, and resources to drive innovation in artificial intelligence, digital transformation, drone technology, and the space sector, including exploration, remote sensing technologies, and research.

In this context, a key milestone of the visit was the establishment of a data center and artificial intelligence strategic partnership between the UAE and Italy. As part of this collaboration, UAE entities MGX and G42 signed a Letter of Intent (LOI) with Italian ENI, aimed at advancing AI infrastructure, expanding data center capacity, integrating sustainable energy solutions, and enhancing cross-border digital resilience. This initiative supports both countries' ambitions in technological innovation, digital transformation, and accelerating AI-driven economies.

The two leaders reaffirmed their commitment to advancing international cooperation in Artificial Intelligence (AI), building on discussions during Italy's 2024 G7 Presidency, recognizing the transformative potential of AI across various sectors. They highlighted the strong existing collaboration between the UAE and Italy in promoting the responsible development and deployment of AI, emphasizing the importance of human-centric, ethical, safe, reliable, trustworthy, and inclusive AI, ensuring data protection and fostering sustainable innovation.

The two leaders underscored the importance of international collaboration in creating frameworks that guide the global use of AI, ensuring its benefits are shared equitably across societies. By leveraging both countries' expertise in AI research and cutting-edge technology initiatives, the two leaders emphasized their shared vision for shaping the future of AI, fostering global policy coordination, and driving inclusive, innovative progress.

The two leaders also agreed to collaborate on education and research initiatives, with a particular focus on the development of emerging and critical technologies, including quantum, cryptography, artificial intelligence, and space sciences.

The two leaders emphasized the importance of strengthening military and security cooperation to enhance defense capabilities and promote regional stability.

They look forward to collaborating on defense technology through research and development, exchange of technical expertise, and maintenance and modernization of defense equipment. Military industrial cooperation will focus on joint production, technology transfer, and the development of defense manufacturing facilities. Security cooperation will include counter-terrorism efforts, cybersecurity, information sharing, and coordinated responses to natural disasters and humanitarian crises.

The two leaders emphasized that the security and stability of cyberspace are essential for promoting digital economic growth and sustainable development.

The two countries reaffirmed that cybersecurity is a key pillar of the UAE-Italy partnership, and the two countries continue to strengthen cooperation in capacity building, information sharing, and the development of centers of excellence to promote innovation, resilience, research and development, and specialized training programs. Their active participation in global cyber cooperation initiatives further enhances their collective ability to address emerging threats and strengthen international defense mechanisms, including active collaboration within the Counter Ransomware Initiative (CRI).

Furthermore, the two countries reiterated their commitment to cybersecurity as a key pillar of the UAE-Italy partnership, and the two countries look forward to exploring ways to deepen cooperation in key areas and establish long-term cooperation between their respective agencies responsible for cybersecurity. This cooperation can be formalized through a Memorandum of Understanding (MoU) to support cyber capacity building, cyber security policy coordination, and emerging threat mitigation. The two leaders highlighted the importance of jointly hosting and expanding cybersecurity events, leveraging the role of the UAE and Italy as international hubs through summits such as GISEC, GITEX, INTERSEC, IDEX, and the Dubai Airshow, as well as the Rome Mediterranean Dialogue - Cybersecurity Forum.

Recognizing the importance of preparedness, the UAE and Italy reaffirmed their commitment to joint cybersecurity exercises, building on Italy's participation in GISEC and CyberQ 2024. The two leaders also emphasized the need to strengthen cooperation on ransomware threats, reaffirming the ongoing cooperation between the two countries and global partners, including the United States, to strengthen cybersecurity strategies and intelligence sharing mechanisms. Both sides agreed that strengthening intelligence sharing efforts will enhance global resilience to cyber threats. Similarly, the two leaders emphasized the importance of cooperation through multilateral mechanisms to achieve international security and stability in cyberspace, starting with regular institutional dialogue at the United Nations.

Recognizing the importance of strengthening police cooperation, the UAE and Italy reaffirmed their willingness to develop exchanges of experiences and share best practices, including their accession to the International Security Alliance (ISA), and to address issues related to combating transnational organized crime, international drug trafficking, money laundering, smuggling and trafficking in persons through training programs. In addition, the two countries continue to strengthen cooperation through the International Law Enforcement Climate Change Initiative (I2LEC) to combat crimes that harm the environment.

The two leaders welcomed the judicial cooperation between our two countries, which has become increasingly strong in recent years, as demonstrated by the decision to establish an office of the Italian Liaison Magistrate in Abu Dhabi; and expressed their confidence that investigation and extradition requests will make positive progress and satisfaction with the joint initiatives implemented to combat transnational organized crime activities, including cybercrime.

The two leaders reaffirmed their strong commitment to global sustainability and climate action, emphasizing the urgent need for international cooperation to address climate change and its far-reaching impacts. They highlighted the two countries' leadership in advancing renewable energy technologies (including solar and wind power), as well as their expertise in green technologies, environmental protection, and water resource sustainability.

In this context, the two leaders welcomed the signing of the tripartite strategic partnership framework between the UAE, Italy, and Albania, which aims to advance renewable energy cooperation, including large-scale solar and wind energy projects. The agreement also enhances regional energy security and access through submarine interconnections, thereby strengthening common climate and energy transition goals.

The two leaders emphasized that energy efficiency is a key driver of economic growth, emission reduction, energy security, and ensuring optimal resource utilization while minimizing environmental impact. By improving efficiency, countries can reduce energy costs, increase industrial productivity, and alleviate infrastructure pressures, thereby making energy more accessible and sustainable.

The two leaders recognized the urgent need to accelerate the integration of sustainable fuels in key sectors, including industry, transportation, power generation, and aviation. They agreed to remain technology-neutral as they explore various pathways for the development and deployment of sustainable fuels. Low-carbon fuels are considered a viable transition solution, and mechanisms to expand adoption will be considered to support large-scale offtake agreements and market expansion.

The two leaders recognized that water is at the heart of climate action, reaffirming their shared commitment to addressing global water challenges. Both sides emphasized the need to strengthen international cooperation and highlighted the upcoming UN Water Conference, co-hosted by the UAE and Senegal in 2026, as a key opportunity to advance global water efforts. They also emphasized the importance of investing in water technologies and innovation to scale up solutions to water scarcity, as demonstrated by the "Mohamed bin Zayed Water Initiative" launched by the UAE in early 2024.

Both sides emphasized the water-energy nexus, particularly in ensuring access to just, affordable, and modern energy for all. They recognized the importance of integrated approaches that improve water use efficiency and resilience, and support the expansion of clean energy, as reliable and clean water is essential for long-term sustainable development. The two leaders also highlighted the role of innovative solutions in advancing conservation efforts and addressing global water challenges.

The two leaders reaffirmed their shared commitment to strengthening agricultural cooperation, recognizing its importance to food security and sustainable development. They highlighted the UAE's leadership in innovative water-saving agricultural solutions, as well as Italy's expertise in high-quality organic agriculture and advanced agricultural technologies, emphasizing opportunities for joint research, knowledge exchange, and trade partnerships.

The two leaders emphasized the role of international cooperation in advancing agricultural innovation and food security, highlighting the value of scientific research and technological advancements in enhancing productivity, sustainability, and climate resilience. They welcomed the ongoing efforts to expand bilateral trade in high-quality agricultural products, particularly organic and sustainable food production, reflecting their shared commitment to resilient food systems and supply chains.

The two leaders recalled and reaffirmed their support for the UAE Consensus and all its collective goals, including the global energy transition commitment to triple renewable energy capacity and double energy efficiency by 2030, an agreement reached at the conclusion of the UAE's successful hosting of the UNFCCC COP28 conference in 2023, as well as the follow-up outcomes of COP29. They recognized Italy's significant contribution to global climate action and expressed their commitment to strengthening cooperation on international environmental initiatives. In this context, they acknowledged the strategic role of the Adaptation Accelerator Hub, launched during Italy's G7 Presidency, in supporting the effective implementation of adaptation actions, and they have a strong interest in working together to unlock and improve access to adaptation finance, particularly in African countries. Both sides also committed to working together at COP30 and beyond to achieve net-zero emissions by 2050.

The two leaders agreed to further strengthen cooperation in the health sector, and on this basis, the UAE expressed its deep appreciation for the humanitarian medical support provided by experts from the Bambino Gesù Children's Hospital in Rome and the Giannina Gaslini Institute in Genoa, Italy. Their humanitarian efforts have proven invaluable, particularly in providing medical assistance to injured patients receiving treatment in Gaza under the UAE's "Gallant Knight Operation" initiative.

The two leaders reaffirmed their shared commitment to strengthening global partnerships and advancing sustainable development through the Rome Process and the Mattei Plan for Africa. The UAE and Italy have been at the forefront of launching the Rome Process, a multilateral framework designed to promote sustainable development, security, and economic growth for the benefit of the people of Africa, which is in line with Italy's vision for African countries (the Mattei Plan). They emphasized that the Rome Process is a key initiative to promote long-term economic cooperation between Italy, the UAE, and African countries, focusing on education and training, food security and rural development, water and sanitation facilities, infrastructure construction, renewable energy, and technology transfer. The two leaders underscored the importance of leveraging this framework to promote inclusive growth, create employment opportunities (including attracting diaspora networks), and strengthen regional stability to address the root causes of migration.

They noted that the Mattei Plan emphasizes strengthening local economies through sustainable and equitable investment, ensuring that Italy and the UAE play a central role in advancing Africa's energy transition and supporting key sectors such as agriculture, health, and education.

During his visit to Italy, His Highness Sheikh Mohamed bin Zayed Al Nahyan, President of the UAE, attended a dinner hosted by the President of Italy in honor of His Highness and his accompanying delegation, as part of His Highness's state visit to Italy.

His Excellency President Sergio Mattarella welcomed His Highness, emphasizing the depth of the relations between the two countries and their shared desire to strengthen cooperation for the benefit of both peoples.

His Highness Sheikh Mohamed bin Zayed Al Nahyan expressed his gratitude to His Excellency President Sergio Mattarella for his warm reception and kind words, which reflect the strong relations between the two countries and their strong desire to continue to develop these relations.

His Highness stated that the strategic partnership between the UAE and Italy continues to experience further growth and development, noting that his visit to Italy reflects the two countries' joint efforts to enhance cooperation and joint economic growth. In addition, His Highness expressed his confidence that the outcomes of this visit will have a significant impact on advancing bilateral relations and wished Italy and its people further progress and growth.

The UAE President and the Italian President exchanged medals at the banquet, with His Highness presenting His Excellency President Sergio Mattarella with the Zayed Medal, the highest civilian honor awarded by the UAE to leaders and heads of state around the world. In turn, the Italian President presented the UAE President with the Order of Merit of the Italian Republic, the highest medal awarded by Italy to world leaders. The UAE and Italian Presidents also exchanged gifts symbolizing the history and heritage of both countries.

Accompanying the UAE President at the banquet were His Highness Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and Deputy Prime Minister; His Highness Sheikh Hamdan bin Mohammed bin Zayed Al Nahyan, Deputy Chairman of the Special Affairs Office of the President; Sheikh Mohammed bin Hamad bin Tahnoun Al Nahyan, Advisor for Special Affairs at the UAE Presidential Court; as well as a number of Italian ministers, senior officials, and invitees.