UAE commercial mission concludes first round of meetings in Genoa, Italy

A UAE commercial mission, led by Sultan bin Saeed Al Mansouri, Minister of Economy, has concluded its first round of meetings, as part of an official visit to the Riviera regions of Italy and Southern France.

The mission, which will run from 3rd to 7th July, was organised by the Dubai Chamber of Commerce and Industry, in cooperation with the Ministry of Economy.

The mission held several meetings in Genoa, Italy, including a special meeting with Giovanni Totti, Governor of Liguria, as well as a roundtable discussion with several Italian investors and businessmen, and two field visits to the Italian Institute of Technology and the Science and Technology Complex.

The delegation discussed ways of developing economic ties with Governor Totti, to further enhance economic development of both countries.

Al Mansouri said that Italy is among the UAE’s main commercial partners in the European Union while the UAE is considered among Italy’s main commercial partners in the region, and noted that the non-oil trade exchange between both countries reached US$8.2 billion in 2016, rising from $7.8 billion in 2015. He also highlighted that both countries had signed several cooperation agreements in many vital areas, which provided facilitations and incentives for businessmen and opened new markets for investors.

During his meeting with top Italian investors and private sector representatives from both countries, the minister said that major opportunities for cooperation are available during the coming period, especially in the priority sectors of both countries' economic agendas, including in the fields of innovation, business administration, scientific research and technology sciences, as well as the UAE’s directives to shift to a sustainable knowledge-based economy. Other opportunities to expand partnerships in commerce, agriculture, food industries, transport, aviation, energy, logistics and tourism are also available, he added.

Genoa is characterised by its exceptional coastal location and its advanced infrastructure and facilities, providing many promising opportunities for investments from the UAE, Al Mansouri continued. "This visit aims to closely discover major investment opportunities and achieve the maximum benefit from available opportunities, to promote the role of the private sector of both countries in developing partnerships, enhancing the current level of co-operation in many sectors, and promoting bilateral relations," he concluded.

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