“Doing business with the United Arab Emirates” is the title and objective of the digital seminar dedicated to Italian SMEs created by Intesa Sanpaolo in collaboration with the Italian Embassy in Abu Dhabi and the Emirates Embassy in Rome. A unique opportunity for discussion activated by the first Italian banking group with an international network capable of accompanying the development of national companies on foreign markets, which on this occasion took advantage of the synergy with the diplomacies of the two countries, with the participation of ambassadors Adbulla Ali AlSubousi and Lorenzo Fanara and the technical-economic attachés of the two diplomatic offices.

The initiative is part of Intesa Sanpaolo's broad project aimed at supporting exports and investments by Italian SMEs, particularly those in the sectors of greatest interest to the Emirati market: food and beverage, agritech, fashion, mechanical and electrical engineering, technology, furniture, pharma-healthcare.

The keystone is Intesa Sanpaolo's program "Your future is our business" recently activated and central to the development strategies of client companies, which can count on the provision of 120 billion euros until 2026 to support projects in priority areas including, alongside Transition 5.0, energy and digital progress, loyalty and development on foreign markets stand out.
The proceedings were opened by AlSubousi , Fanara and Stefano Barrese , head of the Banca dei Territori Division of Intesa Sanpaolo.

Gregorio De Felice , Chief Economist and Head of Research Department Intesa Sanpaolo, illustrated the global economic context and the specific one of the United Arab Emirates. The technical interventions were entrusted to Angela Di Maria , financial attaché of the Bank of Italy at the Italian Embassy in Abu Dhabi; Sara Almheiri , head of the Economic Affairs Section of the UAE Embassy in Rome; Anna Roscio , Executive Director Sales&Marketing Imprese Intesa Sanpaolo, and Giovanni Bozzetti , president of EFG Consulting.

Intesa Sanpaolo is present in the United Arab Emirates with the Dubai and Abu Dhabi branches of the foreign network of the Imi Corporate & Investment Banking Division. A point of reference for companies operating in the area, within the international presence of the Group in approximately 40 countries thanks to controlled banks, corporate hubs, representative offices, branches and collaboration agreements with foreign correspondent banks; in addition to a network of Italian and foreign partners who guarantee assistance in over 160 countries. A network that allows the Group to support Italian companies with dedicated consultancy assistance with over 300 specialists dedicated to abroad and a wide range of financial and non-financial solutions, to seize growth opportunities in new markets as well as in mature ones.

Italy's trade with the UAE in 2023 reached 8.8 billion euros, up 9.5% year-on-year. In the first half of 2024, trade amounted to 4.9 billion euros (+25.8% year-on-year). In the first part of this year, exports recorded a positive variation of 21.8%. The main sectors of Italian imports are metals, especially precious metals in addition to aluminum, refined petroleum products, crude oil, outerwear and footwear, jewelry and goldsmith products. Direct exports to the UAE see jewelry and goldsmith products as the most significant item, followed by mechanical machinery, footwear and leather goods, electrical appliances and motor vehicles.

In addition to the oil sector, the UAE is moving towards encouraging high-tech production, which will increasingly characterize its trade, as well as the economic structure of the country. There are about forty special zones that benefit from tax, administrative and logistics benefits. The sectors that are most encouraged by government authorities are manufacturing, in particular food and agricultural technologies, metallurgy, chemicals, vehicles and high-tech machinery, aerospace, pharmaceuticals and biotechnology. Among the services, trade and e-commerce, education and scientific research, tourism and health services.

The stock of foreign direct investments in the UAE as of 2023 was 225 billion dollars, while the amount of Emirati investments in the world was 262 billion dollars. Italian foreign direct investments in the UAE amounted to 11.6 billion euros. According to the Italian Ministry of Foreign Affairs and International Cooperation, there are over 600 Italian companies in the country.