Rome: In the framework of the State Visit of the President of the United Arab Emirates (UAE) to Italy, the President of the Council of the Ministers of Italy, Giorgia Meloni, welcomed His Highness Sheikh Mohamed bin Zayed Al Nahyan. Both leaders expressed their appreciation for the long-standing ties between their nations and welcomed the progress made in their diplomatic and economic relations since President Meloni's March 2023 visit to the UAE, which elevated their relations to a Strategic Partnership.
According to Emirates News Agency, both leaders have expressed a shared desire to strengthen their partnership further, advancing towards a Comprehensive Strategic Partnership. As part of this effort, the UAE has committed to investing US$40 billion in Italy across key sectors. More than 40 new agreements were signed, aiming to enhance strategic cooperation in areas such as economy, investment, defense, energy, space, and cultural heritage.
The leaders celebrated the growth in bilateral trade, with non-oil bilateral trade reaching US$11.7 billion in 2023. They noted Italy's 50% increase in investment in the UAE over the last five years. The nations plan to conduct a High-Level Business Forum to deepen economic collaboration and explore new investment opportunities in sectors like sustainable energy and advanced technology.
The two leaders also acknowledged the strong cultural ties between their countries, facilitated by the Italian community in the UAE and UAE nationals in Italy. They agreed to promote greater mobility for students, tourists, and business professionals, and to enhance exchanges under the existing Strategic Partnership.
In science and technology, the UAE and Italy committed to advancing space exploration and innovation in advanced technologies. The visit included the signing of a Letter of Intent between UAE entities MGX and G42, and Italy's ENI, to establish a strategic partnership on data centers and artificial intelligence.
The leaders emphasized the importance of international cooperation in defense and cybersecurity. They plan to enhance military and security cooperation, focusing on defense technology, cybersecurity, and information sharing. They also reaffirmed their commitment to joint cybersecurity exercises and deeper collaboration on ransomware threats.
In energy and sustainability, the leaders highlighted the signing of a Tripartite Strategic Partnership Framework between the UAE, Italy, and Albania, aimed at advancing renewable energy cooperation. They emphasized the importance of energy efficiency and the integration of sustainable fuels across key sectors.
The UAE and Italy also committed to strengthening agricultural cooperation to enhance food security and sustainable development. Both nations plan to collaborate on agricultural innovation and expand bilateral trade in high-quality agricultural products.
The leaders reaffirmed their commitment to global climate action, emphasizing collaboration on international environmental initiatives. They expressed their intent to work together towards net-zero emissions targets by 2050 and to strengthen collaboration on adaptation finance, especially in African countries.
In health cooperation, the UAE expressed appreciation for the medical support from Italian institutions in providing assistance during critical humanitarian efforts.
Both nations remain committed to advancing sustainable development and economic growth in Africa through the Rome Process and the Mattei Plan for Africa, focusing on key areas such as education, food security, and renewable energy.