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MILAN / WAM
Investopia Europe, which was launched in the Italian trade capital Milan, witnessed the signing of a memorandum of understanding (MoU) between the UAE-based Sharaf Group and the Italian SMAG for cooperation in the field of logistics and shipping services.
The MoU is the first partnership facilitated by Investopia Europe during the visit of a high-level UAE delegation led by Abdullah bin Touq Al Marri, Minister of Economy, to Milan.
The visit is aimed at exploring mechanisms for strengthening bilateral economic partnership and stimulating investment exchanges between the UAE and Italy in many new economy sectors.
These include renewable energy, tourism and FinTech, which contributes to creating more new investment opportunities to sustain economic growth by strengthening cooperation and establishing partnerships at the private sector level. The MoU was signed in Milan by Salah Sharaf, Vice President of Sharaf Group, and Giuseppe Esposito, President of SMAG. The signing ceremony was attended by Abdullah Ahmed Al Saleh, Undersecretary of the Ministry of Economy; Jamal bin Saif Al Jarwan, Secretary General of the UAE International Investors Council, and several officials from both sides.
The MoU provides for exploring, promoting, and developing joint business opportunities in the UAE, the wider Middle East, and Europe, thus boosting investment exchanges between the two sides.
Under the terms of the agreement, the two parties will work to enhance trade and investment cooperation in the UAE and Italy in several key areas, including air and sea freight services, warehousing, and logistics services, as well as explore more investment opportunities in the two markets.
Salah Sharaf explained that cooperation with SMAG opens up more avenues for cooperation and expansion in European markets from Italy. He added that Investopia Europe adds new impetus to enhancing cooperation between the UAE and Italian private sectors, which will reflect in trade and investment exchanges.
Giuseppe Esposito, President of SMAG, said that Investopia Europe has significant potential in strengthening cooperation between the business communities in the UAE and Italy and creating promising investment opportunities in the sectors of the new economy. It provides an ideal opportunity for Italian and Emirati companies to enter and expand into Middle Eastern and European markets.
He added that the UAE’s investment environment is characterised by the flexibility of economic legislation that facilitates partnerships with major international companies and their expansion from within the UAE. This makes the UAE ‘the land of opportunities and talent.’
The first-ever Investopia Europe brought together senior officials from the UAE and Italy, businessmen, investors, entrepreneurs, and economists from around the world to promote dialogue and stimulate global investment in fast-growing sectors, especially the new economy, the circular economy, family businesses, and creative industries, and identify global future trends.