Today's Edition
MILAN (WAM)
Badr Jafar, the UAE’s Special Envoy for Business and Philanthropy, has concluded high-level visits to Rome and Milan which were aimed at advancing the growing UAE–Italy partnership across trade, innovation, and societal development.
The visits built on the official state visit by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan to Italy earlier this year, during which both countries signed a landmark $40 billion investment agreements.
The mission reinforced the UAE’s broader efforts to deepen business diplomacy and cross-sector cooperation with key European partners, while building on existing bilateral commitments and institutional partnerships.
The UAE and Italy share one of the most dynamic economic relationships in the Eurozone. In 2024 alone, non-oil trade between the two nations reached $13.81 billion, an 18.71% increase from the previous year.
Between 2020 and 2024, UAE investments into Italy totalled approximately $178 million, with Italian investments in the UAE reaching approximately $602 million over the same period. These investment flows underscore confidence in the UAE’s role as a regional platform for innovation-driven, sustainable growth.
During the visit, Badr Jafar engaged senior leaders across business, finance, government, and philanthropy in both Rome and Milan. Discussions focused on unlocking new opportunities for Italian entities to access the UAE’s platforms in energy transition, digital infrastructure, artificial intelligence, and life sciences.
The visit also facilitated cross-sector dialogue to identify synergies and accelerate meaningful partnerships. In parallel, potential pilot collaborations in strategic philanthropy were explored, particularly in youth skills development and health systems, with leading Italian foundations and corporate donors.
He said, “This visit builds on the strong momentum between our two countries and reflects the UAE’s continued commitment to creating practical pathways for long-term, mutually beneficial partnerships. Italy’s innovation economy and global outlook align closely with the UAE’s role as a convening platform for regional and international cooperation.”
Building on these engagements, a framework was established with key Italian institutional and private-sector counterparts to ensure continuity and progress across priority areas of mutual interest.
As the UAE advances its mission to enable high-impact, cross-border collaboration, the visit underscored the increasing relevance of business diplomacy in delivering shared value and sustainable growth.
With the UAE’s expanding network of trade partnerships, non-oil trade in the first half of 2025 surpassed $460 billion, more than double the figure of just five years ago, and non-oil sectors now account for over 75% of national GDP as of 2024.
