Dubai Chambers and Italy's Assolombarda Forge Alliance to Boost Trade and Investment

Dubai Chambers has formalised a Memorandum of Understanding (MoU) with Assolombarda, Italy's prominent regional business association, representing approximately 7,000 companies from key Italian regions including Milan, Lodi, Monza and Brianza, and Pavia. This agreement aims to significantly advance bilateral trade and investment relations between Dubai and Italy.

The MoU was signed during a business seminar at Dubai Chambers headquarters, with high-level attendees including Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Lorenzo Fanara, the Italian Ambassador to the UAE. The event brought together 80 representatives from companies operating in Dubai and Assolombarda member businesses, facilitating discussions on cooperation opportunities across various sectors.

Strategic Partnership Features

The agreement outlines several key initiatives to strengthen ties:

• Business Delegation Visits and Joint Events: Support will be provided for organised visits and collaborative events to promote expertise exchange and reinforce institutional and commercial cooperation.
• Family Business Collaboration: The Dubai Centre for Family Businesses will work with the Assolombarda Family Business Network to share knowledge, best practices, and foster stronger collaboration among family businesses in both markets.
• Assolombarda's Dubai Office: Assolombarda plans to open an operational office in Dubai, further solidifying the industrial and technological alliance between Italy and the Emirates.

This partnership builds on already growing trade relations. Bilateral non-oil trade between Dubai and Italy reached AED 51.1 billion in 2025, marking an 18% growth compared to 2024. The number of Italian companies registered with the Dubai Chamber of Commerce has also seen a substantial increase, growing by over 400% in the last five years to reach 1,700 by the end of 2025. An additional 160 Italian companies joined the chamber in the first half of 2026.

Discussions during the seminar highlighted Dubai’s competitive advantages for Italian companies seeking regional and global expansion, including its advanced business environment, strategic location, world-class infrastructure, and diverse investment opportunities, particularly within the digital economy.