Source Credit: EUROWEEKLYNEWS
On February 25, 2025, Italian Prime Minister Giorgia Meloni and UAE President Sheikh Mohammed bin Zayed Al Nahyan met in Rome and signed a historic $40 billion investment deal. This agreement will boost economic ties between Italy and the UAE, with funds set to flow into sectors like energy, artificial intelligence, telecommunications, and defence. Meloni called the deal "historic" and one of the largest foreign investments in Italy’s history, noting that it marks a new era in cooperation between the two countries.
The investment deal involves many key Italian companies, including Enel, Fincantieri, Cassa Depositi e Prestiti, Eni, and Intesa Sanpaolo. UAE Minister of State for Foreign Trade Thani bin Ahmed Al Zeyoudi said that Italy is very important for the UAE, highlighting that Italy is the UAE’s largest non-oil trading partner in the Eurozone. The deal also includes plans for military and cybersecurity cooperation, advanced manufacturing, digital and energy interconnectivity, and even space exploration. As part of this cooperation, Italy will join the Emirates mission to asteroids and the Rashid Rover 3 mission.
This new agreement comes on the heels of a similar deal signed with Saudi Arabia, which was worth about $10 billion. However, Meloni’s opponents have raised concerns about the UAE’s human rights record, a subject that has been controversial in the past. Despite these concerns, Meloni believes that the deal will create jobs, boost the economy, and strengthen the long-standing ties between Italy and the Gulf states.
