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Strengthening ties

Over the last years, the UAE and Italy have partnered and collaborated on several bilateral and multilateral initiatives that have bolstered their relations

The UAE and Italy have always had strong bilateral relations which have been reflected in its trade ties as well. The volume of trade between the UAE and Italy rose by 53 per cent to $9.92 billion (€8.4 billion) in 2020 compared to 2019 despite the challenges of Covid-19 pandemic. In March, 2022, the institutional mission to the UAE of Gilberto Pichetto, the Italian deputy minister for economic development, concluded in the presence of the Italian industrial and economic world. The meeting, promoted by the Italian chamber of commerce in the UAE and under the auspices of the Italian embassy in Abu Dhabi, was attended by Giuseppe Finocchiaro, the Italian Consul General, Carlo Ferro, the ICE president, together with Mauro Marzocchi, the secretary-general of the Italian chamber. In February, 2022, a delegation from Marche Region – led by its vice-president and councillor for production activities, Mirco Carloi signed a Memorandum of Understanding (MoU) between the Marche and Dubai Chambers of Commerce. The aim of the memorandum is to foster awareness of the two economic and local production systems and make them mutually attractive to one another.

In October 2021, the UAE Expert Group for anti-money laundering and combating the financing of terrorism (AML/CFT) continued to hold productive meetings with key partners to discuss AML/CFT matters. These meetings built on earlier meetings held with other key partners, including Saudi Arabia, the Gulf Cooperation Council (GCC), the European Commission (EC), and Russia. In November 2021, the UAE launched an international tolerance alliance - a unique initiative that aims to bring together religious leaders, governments and people to promote peaceful coexistence. The Global Tolerance Alliance was launched by Sheikh Nahyan bin Mubarak Al Nahyan, the UAE’s Minister of Tolerance and Coexistence, at a special event held at the Italy pavilion at Expo 2020 Dubai. It was held on the International Day of Tolerance, which is celebrated on November 16, and as part of the ongoing Tolerance and Inclusivity Week at the world fair. Prominent international leaders from the UN, the Vatican, and Al Azhar Al Sharif, among others, attended the summit.