UAE and Italy Sign Three MoUs to Strengthen Bilateral Investment and Cooperation
Abu Dhabi, The Gulf Observer: The UAE Ministry of Investment has signed three significant Memoranda of Understanding (MoUs) with the Republic of Italy, aimed at bolstering mutual investments and fostering cooperation in key sectors including pharmaceuticals, minerals, data centres, and artificial intelligence (AI). The agreements seek to promote innovation, knowledge transfer, and the integration of advanced technologies to enhance the development of life sciences, minerals, and digital infrastructure in both countries.
The MoUs were officially signed by Mohamed Hassan Alsuwaidi, UAE’s Minister of Investment, and Adolfo Urso, Minister of Enterprises and Made in Italy, marking a critical step in strengthening the bilateral relationship between the UAE and Italy. These agreements build upon the historical framework established by the 1984 Economic, Industrial, Technological, and Financial Cooperation Agreement and the 1995 Investment Promotion and Protection Agreement between the two nations.
In his remarks, Mohamed Hassan Alsuwaidi emphasized the importance of collaboration with Italy, stating, “Our collaboration with Italy underscores the strength of our bilateral relationship and our shared commitment to sustainable economic growth. These MoUs mark a significant milestone in advancing cooperation across healthcare, energy transition, and digital transformation, reflecting the UAE’s dedication to fostering forward-looking partnerships that drive mutual prosperity while addressing global challenges.”
Adolfo Urso echoed these sentiments, noting that the agreements create new opportunities for both nations. “By fostering collaboration in pharmaceuticals, minerals, and digital infrastructure, we are strengthening our international cooperation and leveraging mutual expertise in cutting-edge industries to drive economic progress,” he said. “We look forward to the tangible benefits these partnerships will bring, not only for Italy and the UAE but also for broader global progress.”
Key Areas of Cooperation
- Pharmaceutical Sector Collaboration
The MoU signed between the UAE Ministry of Investment and the Italian Ministry of Enterprises and Made in Italy focuses on advancing cooperation in healthcare, biotechnology, and pharmaceuticals. The partnership aims to explore opportunities for technology transfer, vaccine production, regulatory policy development, and research into new treatments for critical conditions like oncology, cardiovascular diseases, and rare diseases. The collaboration will also focus on the commercialization of innovative medicines and the integration of AI and technology companies to optimize research and manufacturing processes. - Sustainable Mining and Mineral Sector
The UAE and Italy have signed a five-year MoU aimed at advancing collaboration in sustainable mining practices. The agreement covers mineral exploration, extraction, processing, recycling, and workforce development. The two countries will explore economic partnerships in the mineral value chain and emphasize responsible governance and capacity building through specialized training. Additionally, the partnership will promote sustainable practices and the establishment of monitoring systems to track progress in the sector. - Digital Infrastructure and AI Cooperation
The third MoU aims to enhance cooperation in the digital infrastructure sector, with a particular focus on data centres and AI. The collaboration will promote the bio-economy, energy transition, and the exchange of technical knowledge. Both nations will work together to establish new green data centres, including a target capacity of up to 2 GW, and explore the creation of “Virtual Data Embassies” to ensure secure cross-border data resilience. Leading companies such as MGX, G42, and ENI will play a key role in these initiatives, which also include efforts to expand cloud services, upskill local talent, and promote educational exchanges in AI and digital technologies.
Strengthening Bilateral Relations
These MoUs reflect the growing political cooperation and economic partnership between the UAE and Italy. Non-oil trade between the two countries has surged, with Italian exports to the UAE reaching approximately US$ 7.22 billion in 2023, a 22% increase in early 2024. UAE exports to Italy were valued at US$ 1.57 billion in 2023. Over 600 Italian companies operate in the UAE, underscoring the depth of their economic ties.
The strategic partnerships and collaborative initiatives outlined in the MoUs are expected to drive long-term benefits for both countries and serve as catalysts for innovation, economic diversification, and global leadership in healthcare, resource development, and digital transformation.
As the UAE and Italy continue to deepen their bilateral ties, these agreements will play a pivotal role in advancing shared goals and addressing global challenges through sustainable and forward-thinking solutions.
