H.E Liborio Stellino, Italy’s Ambassador to the UAE visited H.E. Sheikh Mohammed bin Faisal Al Qassimi, Chairman and CE of MANAFA LLC, and Chairman of Italian Chamber of Commerce in the UAE, at H.E. Sheikh Hasher Bin Maktoum Al Maktoum’s Palace in Dubai.
The meeting was aimed at discussing various ways of enhancing the already thriving relationship between the two countries. Notably, according to official figures, the value of foreign trade between the two countries is over US$8 billion in 2015.
H.E. Sheikh Mohammed bin Faisal Al Qassimi said, “Italy is definitely one of the important European trade partners for the UAE for many years. We share a highly productive and cooperative relationship when it comes to business, primarily imports and exports. This meeting featured many ideas that will further the potential of our mutual relationship in in trade sectors and on a cultural level as well.”
To shed the light on the trade figures again, in 2015, Italy’s exports to the UAE amounted to US$6.4 billion in manufactured products alone, mainly in the mechanical (US$1.8 billion) and precious metals (US$1.6 billion) sectors.
“There are huge opportunities that can be explored with Italy when it comes to bilateral trade. From industries like jewellery to machinery, it has been a constant give and take that has allowed the two nations to strengthen their economic bond,” added H.E. Sheikh Mohammed.