Ibn Touq discusses with ministers in Italy and San Marino to develop economic partnership in the fields of the new economy

Milan, May 19 / WAM / His Excellency Abdullah Bin Touq Al -Marri, Minister of Economy, President of Investopia, confirmed that the UAE and the Republic of Italy are united with strong and firm relations, characterized by the continuous development in various fields, especially the economy and investment, in line with the advisory visions of the leadership of the two friendly countries, by enhancing and promoting relations and links to more prosperous and advanced levels.

This came during the meetings of His Excellency with a number of ministers in the Italian government and in the government of San Marino, which was held on the sidelines of the third edition of the “Interestopa Europe” dialogues in the capital of trade and Italian fashion Milan, where these meetings were attended by His Excellency Alia Bint Abdullah Al Mazrouei, Minister of State for Entrepreneurship, and His Excellency Abdullah Ali Al -Sabousi, the UAE ambassador to the Italian Republic.

His Excellency Abdullah bin Touq said: The two countries have promising opportunities to diversify and expand the umbrella of economic cooperation in sectors of mutual interest, especially in light of the increasing growth in business and mutual investment flows, and the partnership and cooperation agreements signed between the two countries in many economic fields, in addition to the presence of 7536 companies and more than 400 Italian commercial agencies operating in UAE markets with various economic activities, including financial technology Transport, tourism, energy and hospitality.

In detail, His Excellency Abdullah Bin Touq and His Excellency Alia Al Mazrouei held a meeting with His Excellency Adolfo Oso, Minister of Companies and “Made in Italy”, to discuss new plans and work mechanisms that contribute to supporting the levels of economic cooperation between the two countries during the next stage, and providing more possible possible comprehensively for Emirati and Italian business community, in a way that serves common interests and aspirations of the two countries.

His Excellency Alia Al Mazrouei said: The meeting with the Italian side represents an important step to enhance bilateral cooperation in the business and small and medium enterprises sector, stimulate work to provide more possibilities for business leaders and startups in the markets of the two countries, and support their competitiveness in various economic activities, both and encourage them to expand foreign markets.

His Excellency Alia Al Mazrouei, Minister of Companies, and made in Italy, reviewed the developments of the business environment environment in the UAE, as well as the national entrepreneurship system that was launched last November, and its vital role in raising the success rate of entrepreneurs in their emerging projects in the country, and enhancing the Emirates competitiveness as a leading destination for entrepreneurship at the regional and global levels.

The Emirati side expressed its desire to hold the seventh session of the joint economic committee between the UAE and Italy during the next stage, as it will create a vital platform to enhance economic and investment relations between the two sides, and will support communication between the community’s business.

In a related context, the Emirati side met with His Excellency Daniela Santanki, Italian Minister of Tourism, to discuss the mechanisms of enhancing tourism cooperation between the UAE and Italy in light of their economic partnership, and working to provide new opportunities for the business community in the tourism, aviation and travel sectors, as well as the possibility of providing various tourism and recreational programs that support the increase in the exchange of tourism delegations.

His Excellency Abdullah bin Touq said: The tourism exchange between the UAE and Italy witnesses continuous growth, as the number of Italian visitors to the UAE reached 358,904 during the year 2024, an increase of 9% compared to 2023, and the air traffic between the two countries witnessed approximately 106 flights per week through airlines in the two countries.

The two parties touched on the importance of enhancing joint work, especially in the field of tourism promotion, in order to support the growth of the number of tourists and visitors to their markets, and pointed to the importance of exchanging experiences and policies that support the sustainability of the tourism sector in the two countries, and enhance the growth of their economists.

Also, the Emirati side met with His Excellency Marco Gatti, Minister of Finance in the Republic of San Marino, to improve the joint economic relations in areas of mutual interest, including tourism, financial services and technology, increase investments between the two sides, and enhance cooperation opportunities in the digital transformation of the vital sectors, as well as the financial and tax stimuli granted to investors and businessmen on both sides.

His Excellency Abdullah Bin Touq also held a bilateral meeting with Jeanc Huknberg, Executive Director of the Ellen Mac Arthur Foundation, to discuss a set of policies and strategies for the circular economy and mechanisms for motivating the private sector to participate in establishing new circular models in many vital sectors such as advanced manufacturing and sustainable transport, depending on the best practices followed globally.

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