Dubai Chambers has signed a Memorandum of Understanding with Assolombarda, Italy's largest regional business association, in a move aimed at deepening trade and investment links between Dubai and Italy.
Assolombarda represents around 7,000 companies across Milan, Lodi, Monza and Brianza, and Pavia.
The agreement was signed during a business seminar organised by Dubai Chambers at its headquarters. Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Lorenzo Fanara, Ambassador of Italy to the UAE, attended, along with 80 representatives from companies in Dubai and Assolombarda member firms.
The MoU provides for support for business delegation visits and joint events to promote the exchange of expertise. It also includes cooperation between the Dubai Centre for Family Businesses and the Assolombarda Family Business Network to encourage knowledge sharing and best practices.
Alvise Biffi, President of Assolombarda, said the deal creates expansion channels for its member companies and reinforces Dubai as a strategic hub for Italian manufacturing and services in the Gulf. He added that an Annual Business Roundtable will be launched and that Assolombarda will soon open an operational office in Dubai.
Lootah said Dubai Chambers remains committed to expanding international cooperation and deepening ties between companies in Dubai and Italy.
The agreement follows strong growth in commercial ties. Bilateral non-oil trade reached AED 51.1 billion in 2025, up 18% on 2024. Italian companies registered as active members of Dubai Chamber of Commerce rose by more than 400% over five years to 1,700 by the end of 2025, with 160 more joining in the first half of 2026.
The seminar drew 33 prominent Italian companies. Discussions covered cooperation in key sectors, Dubai's advantages as a growth base, the role of emerging technologies such as Agentic AI, and the importance of collaboration between institutions, start-ups and investors.
News Source: Emirates News Agency
