Urso, new agreement between Italy and the Emirates on industry and technologies

The Minister of Business and Made in Italy Adolfo Urso has signed a memorandum of understanding with the Emirates Minister of Investment Mohamed Hassan Al Suwaidi in Abu Dhabi to promote mutual investments in industry and manufacturing and new partnerships between the companies of the two countries.

Mimit made this known, explaining that the agreement, which will last five years with automatic renewal for a further five years, aims to strengthen bilateral economic cooperation through joint ventures, strategic alliances and co-investments, focusing on the development of industrial plants, technological transfer, research and the adoption of advanced production technologies.

The signing took place at Investopia, the international forum for economic cooperation opportunities between countries in Abu Dhabi.

"The friendship between Italy and the United Arab Emirates finds in this agreement a new industrial perspective - said Urso, continuing his mission in the Gulf countries -. A commitment that will contribute to Italian and European strategic autonomy, through closer cooperation with those who share our development and innovation objectives".

Specifically, the agreement also encourages joint investments in startups and innovative companies in the sectors of artificial intelligence, robotics, biotechnology, life sciences and fintech and, as Mimit underlines, will also extend to the strengthening of supply chains, energy efficiency, the circular economy and the training of industrial and technical skills, with the aim of increasing the competitiveness of production and their export potential.

Now, the two ministries will designate their respective representatives within thirty days, who will be able to agree on a joint work plan.