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Minister of Economy holds cooperation talks with Italian Ambassador to UAE

His Excellency Sultan Al Mansouri, UAE Minister of Economy, met with Giorgio Starace, Italian ambassador to the UAE, to discuss bilateral economic cooperation.

Commending the excellent ties shared bythe UAE and Italy,His Excellency Al Mansouri said the two countries enjoy open and flexible economies that aid foreign investments, and offer abundant scope for strengthening mutual synergy.

His Excellency Al Mansouri said: “Bilateral relations with Italy have significantly matured during the last few years. In 2013, non-oil trade between the UAE and Italy surpassed US$6 billion. A total of 92 Italian companies, as well as 390 trade agencies and over 4,387 trademarks are registered with the Ministry. However, we believe there is room for further development in economic ties. Towards this objective, we have signed a number of strategic agreements and memoranda in different sectors.”

His Excellency Al Mansouri and Giorgio Starace reviewed the results of the UAE-Italy Economic Forum held in June in Marche, Italy, and reiterated the importance of hosting events that draw the participation of business community members from the two countries. The UAE-Italy Economic Forum was attended by a high-level UAE delegation headed by His Excellency Al Mansouri.

Currently, Etihad, Emirates and Alitalia operate nine daily flights between the UAE and Italy. The number of tourists from the UAE to Italy and vice versa continues to rise, with Dubai alone hosting more than 133,000Italian guests in its hotels during 2013.