Dubai Chambers has signed a memorandum of understanding with Italy’s Assolombarda, the country’s largest regional business association, in a move aimed at developing bilateral trade and investment relations, strengthening communication between the business communities in Dubai and Italy, and opening broader opportunities for companies to build new partnerships in sectors of mutual interest.
Assolombarda represents the interests of around 7,000 companies across Milan, Lodi, Monza and Brianza, and Pavia, giving the agreement added significance in expanding cooperation between companies operating in Dubai and their Italian counterparts.
The memorandum was signed during a business seminar organized by Dubai Chambers at its headquarters in cooperation with Assolombarda. The event was attended by Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Lorenzo Fanara, Ambassador of the Republic of Italy to the UAE, along with 80 representatives of companies operating in Dubai and member companies of the Italian association.
The seminar explored potential areas of cooperation and shared interests across a number of key sectors. Participants also exchanged views on the aspirations of the two business communities and their long-term objectives, supporting the development of more diverse and sustainable economic ties between both sides.
New Opportunities for Companies in Dubai and Italy
Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, said: “We are committed to expanding the horizons of international cooperation and partnerships in ways that support the growth of trade and investment between Dubai and global markets, enable business communities to explore new opportunities in priority sectors, and build sustainable partnerships that enhance companies’ competitiveness and their ability to expand internationally. We remain committed to strengthening ties between companies in Dubai and Italy, opening new pathways for cooperation, investment, and shared growth.”
This approach reflects Dubai Chambers’ continued focus on strengthening ties with key international markets and creating more opportunities for companies to develop their businesses, connect with new partners, and benefit from promising sectors in both Dubai and Italy.
The agreement also supports more direct communication between companies, helping them identify new trade and investment opportunities and develop long-term relationships that serve the interests of both business communities.
Dubai as an Important Gateway for Italian Companies
Alvise Biffi, President of Assolombarda, said: “The memorandum of understanding between Assolombarda and Dubai Chambers provides distinctive expansion opportunities for more than 7,000 member companies of the association and reinforces Dubai’s position as a strategic hub for Italian industries and services in the Gulf region. This partnership moves bilateral trade relations beyond their traditional framework toward more integrated institutional cooperation by strengthening links between family business networks and launching an annual business roundtable, ensuring continuity of cooperation in an organized and effective manner. The agreement also supports the ongoing dialogue between Assolombarda and the United Arab Emirates, as the association also intends to open an operational office in Dubai soon, further strengthening the industrial and technological partnership between Italy and the UAE.”
These steps highlight Dubai’s growing role as an important center for Italian companies seeking to expand their presence in the Gulf region and reach new markets, particularly in the industrial, technology, and services sectors.
The planned opening of an Assolombarda operational office in Dubai is also expected to support communication between its member companies and the local business community, while helping develop new opportunities for cooperation and investment in the coming period.
Supporting Business Delegations and Joint Events
The memorandum of understanding provides for supporting business delegation visits and organizing joint events between the two sides, contributing to greater knowledge exchange and stronger ties between institutions and companies, while also supporting the development of further commercial partnerships.
The agreement comes at a time when trade relations between Dubai and Italy are recording notable growth. Bilateral non-oil trade reached AED 51.1 billion in 2025, representing an 18% increase compared with 2024.
These figures reflect the strength of economic ties between both sides, as well as the growing interest among Italian companies in the opportunities Dubai offers across a range of economic and investment sectors.
Strong Growth in the Number of Italian Companies in Dubai
The number of active Italian companies registered as members of the Dubai Chamber of Commerce has increased by more than 400% over the past five years, reflecting the continued expansion of the Italian business community’s presence in the emirate.
By the end of 2025, the number of Italian members had reached 1,700, while another 160 new members joined during the first half of 2026.
This rapid growth reflects Dubai’s attractiveness to Italian companies and the advantages offered by its advanced business environment, modern infrastructure, and strategic location, which enables companies to access a wide range of regional and international markets.
The expansion of Italian companies in Dubai also creates additional opportunities to build partnerships with local businesses and benefit from continued growth across different sectors of the economy.
Digital Economy Among Promising Areas of Cooperation
Representatives of 33 Italian companies took part in the seminar as part of the Assolombarda delegation. During a panel discussion, participants reviewed the most promising sectors for cooperation between companies operating in Dubai and member companies of the association.
The discussion also highlighted the competitive advantages Dubai offers to support the growth of Italian companies and help them expand regionally and globally. These include the emirate’s advanced business environment, strategic location, sophisticated infrastructure, and wide range of investment and commercial opportunities, particularly in the digital economy.
The Italian side was also represented by Veronica Squinzi, Vice President of Assolombarda for Internationalization, who presented an overview of the association’s production ecosystem and supply chains.
Other participants included Mattia Macellari, President of the Small Enterprises Group; Federico Chiarini, President of the Young Entrepreneurs Group; and Massimo De Amato, the President’s Delegate for Circular Economy and Environmental Technologies.
