Italy to UAE like moths to a flame

The UAE’s top business executives representing public and private sectors marketed the huge investment potential to Italians, during their recent interaction, when they met on the sidelines of the high-level UAE-Italy Joint Economic Committee’s high-level meeting held in Italy. After the successful meetings, the UAE’s business delegates expressed their “Confidence on the beneficial impact of the visit in boosting bilateral trade.” The Committee signed an agreement in the presence of His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister and Ruler of Dubai and of the UAE. Mohammed Ahmed bin Abdul Aziz Al Shihhi, Director-General of the Ministry of Economy, said: “We remain committed to ensure the implementation of the projects agreed with the Italian side.”Abdul Aziz Al Shamsi, UAE Ambassador to Rome, added: “Italy clearly understands the critical importance of the UAE as a trading partner, which is one of the most developed and open economies in the Middle East.” Abdul Rahman Saif Al Ghurair, Chairman of the Dubai Chamber of Commerce and Industry, said “The results of the joint committee meetings will contribute to the promotion of trade and investment relations with the UAE, in general, and especially Dubai.” Jamal Al Hai, Senior Vice-President, Dubai Airports, emphasized that Italy has strong potential in tourism, and the UAE delegation came at the right time to open new prospects of cooperation in tourism and travel. Italy was among top ten countries in trade with the UAE in 2010 while investors from both the sides are also taking interest for enhanced investment relations. Recent examples are Abu Dhabi-based Aabar Investment’s 4.99 per cent stake in Italy’s UniCredit, and a joint venture between Dubai-based Emaar and Italian designer Giorgio Armani which saw the launch of the first Armani hotel in Dubai a year before and there are plans to open 10 more Armani-branded hotels and resorts within the next 10 years in famous cities across the world. Italy also has a good variety of Halal food and trying to improve it more. Very recently Ministry Foreign Affairs signed an agreement with the Ministry of Agriculture and Ministry of Trade in order to promote Halal fo