Italy's Meloni secures $40B in UAE investments during MBZ visit: What to know
Italian Prime Minister Giorgia Meloni has secured a total of $50 billion worth of deals from her engagements with the UAE and Saudi Arabia so far this year.
DUBAI — Following a two-day state visit by Emirati President Sheikh Mohammed bin Zayed to Rome, the United Arab Emirates has pledged to invest $40 billion in Italy across key sectors and said it was working toward a free trade agreement with the European Union.
The investment push spans sectors including defense, where the UAE has a well-established relationship with Italy, and emerging areas such as technology, underscoring Italian Prime Minister Giorgia Meloni's dealmaking. Meloni, who has cultivated close ties with Gulf leaders, secured a total of $50 billion in investment guarantees from Saudi Arabia and the UAE following her visits to both countries this year.
Abu Dhabi and Rome are moving toward a "comprehensive strategic partnership," according to a joint statement posted on Meloni's official website on Feb 24.
More than 40 agreements were signed during the visit. Sheikh Mohammed met with Meloni at the Palazzo Chigi on Monday and visited the UAE-Italy Business Forum where the deals were signed. These agreements cover sectors including economy and investment, defense, energy (encompassing peaceful nuclear energy, sustainable energy and energy transition), space and the promotion of cultural heritage.
