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The Emirates News Agency reported that the UAE Embassy in London and the Italian Embassy jointly organised the event to update business executives on the bilateral investment framework first announced in 2025. According to the agency, participants heard details on several initiatives that have moved from memoranda of understanding to implementation phases in areas such as artificial intelligence, data centres and renewable energy. The briefing emphasised practical outcomes from the partnership, with representatives outlining specific projects already underway.
A Reuters dispatch from February 2025 detailed the original pledge made during a state visit by UAE President Sheikh Mohamed bin Zayed Al Nahyan to Rome, where more than 40 agreements were signed with Italian Prime Minister Giorgia Meloni. The commitment covers strategic sectors including energy transition, critical minerals, space technology and defence collaboration, the report stated. Italian firms such as Eni, Enel and Fincantieri figured prominently in the initial deals alongside UAE entities like Masdar, G42 and MGX.
Italian Trade Agency figures show that Italy doubled its share of the UAE oil and gas equipment market to 17.3 percent in the first half of 2026, with related exports reaching €188.5 million in that period. The agency attributed the rise to strengthened bilateral ties that have extended beyond the $40 billion framework into broader commercial exchanges. This growth builds on 2025 exports of €378.5 million, when the UAE market for such equipment expanded by 38.6 percent to €3.97 billion overall.
Eni signed an agreement with UAE partners MGX and G42 to develop up to one gigawatt of natural gas-powered data centres in Italy that incorporate carbon capture technology, a joint statement from the 2025 summit indicated. The same announcement noted that Eni also secured preferred off-taker status for renewable energy generated in Albania through a tripartite arrangement involving Masdar and Taqa Transmission. These examples illustrate how the framework has progressed toward concrete delivery within 18 months of the original pledge.
Non-oil bilateral trade between the UAE and Italy climbed to $14.1 billion in 2024, marking a 21 percent increase from the previous year, according to data cited in multiple WAM reports. The Emirates News Agency has tracked subsequent implementation steps, including three memoranda of understanding signed in 2025 that target cooperation in pharmaceuticals, sustainable mining and digital infrastructure with a focus on AI-enabled data centres. Capacity targets under the digital agreements include green facilities scaled to two gigawatts.
Ambassadors from both countries used the London session to reinforce ongoing coordination between governments and private sectors, the Emirates News Agency stated. The event served as a platform for networking between UK-based investors and representatives of the UAE-Italy partnership, highlighting opportunities for third-party participation in existing projects. Further briefings are expected as additional commitments reach advanced development stages.
