Italy and UAE to strengthen ties with $40 billion deal
A new era of collaboration between the two countries targeting energy, tech, and defence.
The United Arab Emirates (UAE) is set to make a significant $40 billion investment in Italy, covering sectors such as energy, technology, and defence. This follows the first-ever state visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to Italy. The investment will span various projects, including data centres, AI, renewable energy, and subsea activities.
Italian Prime Minister Giorgia Meloni emphasised that this partnership will strengthen bilateral relations, with a focus on mutual economic growth and collaboration. The investment aligns with the Mattei plan, aimed at boosting African development and reducing migrant arrivals to Italy. One notable project involves transporting electricity through an undersea cable between Italy, Albania, and the UAE, further enhancing regional cooperation.
In addition to economic and energy initiatives, both nations agreed to ramp up defence and security collaborations, including joint military production, cybersecurity, counter-terrorism, and disaster response efforts. The partnership will also support advanced research and development, contributing to sustainable development and digital growth.
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