Italy bet on UAE's success with $105.8 million last two years
Dubai Airport Freezone (DAFZA) recently hosted two seminars in Rome and Milan to boost the United Arab Emirates’ economic ties with Italy.
The seminar discussed the benefits of investing in Dubai, and specifically DAFZA, to representatives from Italian businesses looking to expand into the Middle East and North African markets, said a press release.
This comes at an appropriate time, as trade between the two countries has consistently increased over the last few years, it said. Italy has exported EUR 4.7 billion to the UAE and has imported commodities worth EUR 300 million from the UAE in 2011.
Jamal Bin Marghoob, Director of the Marketing &Corporate Communications Department, DAFZA, commented, “As a facilitator of international trade, DAFZAactively works to attract Italian companies through various marketing activities working closely with the Italian Ministry of Economy.
As a result, we have found that the number of Italian companies currently operating out of the Freezone has steadily increased.European companies currently represent 31 per cent of investment in DAFZA.”
Bin Marghoob added, “The Freezone’s seminars in Italy will work to strengthen the existing relationship. DAFZA is a natural choice for businesses expecting integrated solutions through a service-centric platform as we work to cater to our Italian stakeholders alongside our consultants Gianni Origoni Grippo Cappelli & Partners.”
Twenty seven Italian companies are currently operating out of DAFZA, including Luxottica Middle East FZE, Montegrappa Middle East FZE, Ariston Thermo Spa Middle East, and Iguzzini Middle East FZE.
- With Sisi likely to take over, how will Egypt's 'military economy' look like?
- Will future talks between the IMF and Egypt help the country's economy?
- Is Iran's economy already thriving amidst limited sanctions relief? Apparently so!
- Invest your wealth or each person for himself? Growth and tackling inequality are the key
- Will UAE's new law really boost SME development in the emirates?