Dubai Chambers and Assolombarda They signed a Memorandum of Understanding aimed at enhancing bilateral trade and investment relations, strengthening engagement between the Dubai and Italian business communities, and opening new avenues for partnerships and cooperation between companies in sectors of mutual interest.
The Memorandum was signed during a meeting organized by Dubai Chambers at its headquarters in collaboration with Assolombarda. The signing took place in the presence of Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, Lorenzo Fanara, Italian Ambassador to the UAE, and the President of Assolombarda, Alvise Biffi, with the participation of 20 representatives of companies operating in Dubai and Assolombarda member firms. "The initiative explored the opportunities for cooperation and mutual interestor in several key sectors. It also provided a platform to exchange perspectives on the long-term aspirations and goals of both business communities,” Assolombarda emphasized in a statement.
Comments
“We are committed to expanding international cooperation and building stronger partnerships that support the growth of trade and investment between Dubai and global markets,” he said. Mohammad Ali Rashed Lootah"Our efforts also focus on enabling business communities to explore opportunities in priority sectors and build sustainable partnerships that strengthen competitiveness and support international expansion. We remain dedicated to deepening ties between Dubai and Italian businesses and opening new channels for cooperation, investment, and shared growth," concluded the President and CEO of Dubai Chambers.
Alvise Biffi, president of Assolombarda, said: “The agreement between Assolombarda and Dubai Chambers creates privileged expansion channels for over 7.000 companies associates, strengthening Dubai as a strategic hub for Italian manufacturing and services in the Gulf region. This initiative transforms traditional bilateral trade into a systemic partnership. Key elements include synergies between family business networks and the launch of an annual Business Roundtable to ensure ongoing and structured cooperation. The agreement strengthens the ongoing dialogue between Assolombarda and the United Arab Emirates. Assolombarda will soon open an operational office in Dubai, further consolidating the industrial and technological alliance between Italy and the Emirates. We promote a shared vision: integrating the UAE's technological prowess and cutting-edge infrastructure with the manufacturing excellence, know-how, quality, and innovation capacity of the region represented by Assolombarda. This natural convergence extends to the new frontiers of Physical AI, joining forces to drive the digital transformation of industry.
What's the deal?
The Memorandum provides for the ssupport for company delegation visitsand joint events aimed at promoting the exchange of expertise and strengthen cooperation institutional and commercial. The agreement also includes initiatives to support family businesses Through cooperation between the Dubai Centre for Family Businesses, which operates under the umbrella of Dubai Chambers, and the Assolombarda family business network. "This collaboration will encourage knowledge sharing, the exchange of best practices, and closer collaboration between family businesses in both markets. The agreement comes at a time of growing trade relations between Dubai and Italy," the business association emphasizes.
Dubai-Italy trade will increase by 18% in 2025
The agreement comes at a time of strong expansion in trade relations between Dubai and Italy. In 2025, the non-oil bilateral trade reached AED 51,1 billion, recording growth 18% compared to 2024. Over the last five years, the number of Italian companies registered as active members of the Dubai Chamber of Commerce has also increased by over 400%, reaching 1.700 by the end of 2025A further increase was recorded in the first half of 2026, with the addition of 160 new Italian companies.
