The UAE has stepped up its game on the European playing field. Sheikh Mohamed bin Zayed Al Nahyan’s first-ever state visit to Italy saw more than 40 new deals signed with Italian Prime Minister Giorgia Meloni’s backing.
"We often use the word 'historic' too lightly, but today, it is truly appropriate," Meloni said at the Italy-UAE Business Forum in Rome. "This forum represents a milestone in our bilateral relations."
The backing stretches across many fields. Both countries will team up on cutting-edge work in artificial intelligence, data hubs, high-end making, rare earth mining, and space research.
Italian Energy Links Cross Seas to Albania
One standout deal binds Italy, UAE and Albania in an ambitious energy web. Italian firm Eni signed a pact with UAE’s Masdar and Taqa Transmission to set up long-term power deals.
The deal makes Eni the top buyer of green power made in Albania. This clean energy will flow through a new undersea link between Albania’s Vlora and Italy’s Puglia shoreline.
"Our partnership with the UAE is a testament to our shared commitment to a sustainable energy future," Eni's boss Claudio Descalzi said. "We will develop initiatives in areas that are essential in the energy transition."
The setup calls for a subsea cable with one gigawatt strength. Workers aim to finish it within three years, helping Italy cut its use of old, dirty fuel types.
Gulf Wealth Hunts Fresh Ground in Italian Markets
Trade ties between Italy and UAE have grown by leaps and bounds. Last year alone, non-oil trade hit $14.1 billion, up 21.2% from the year before.
"Italy holds strategic importance for the UAE[.] It is our largest trading partner in the Eurozone," UAE's trade chief Thani bin Ahmed Al Zeyoudi told the forum crowd in Rome.
The UAE’s push into Italy fits with a wider Gulf shift to spread wealth beyond oil. Both Saudi Arabia and the UAE have cast their eyes toward Italy, with Saudi Arabia lately penning deals worth around $10 billion.
Italy Turns East While Others Lag Behind
Experts see Italy standing out among its Western peers. While other Western nations stay stuck in their ways, Italy’s push under Meloni has won praise from wealthy Gulf backers.
Saudi Prince Alwaleed bin Talal praised how Meloni moved from running as a right-winger to ruling from the middle with a “pragmatic” touch.
This shift has helped Italy pull ahead where France, Germany, and other Western countries lag. The keen eye for deals with Gulf states has let Italy build bridges while other European nations face what bin Talal calls “backwards” thinking.
Defence Bonds Grow Stronger Between Nations
Beyond money and energy, the UAE-Italy pact touches on defense and security. The two countries will work hand-in-hand on military technology, helping each other guard against threats.
The treaty calls for shared defense equipment production, with both sides trading expertise. They will build new facilities, exchange skills, and help shore up each other’s defenses against cyber attacks and extremist groups.
Meloni’s work to lift the old restriction on selling arms to Gulf states has cleared the way for these new bonds to grow.
New Friends in a Fragile World Order
The UAE-Italy bond shows how global powers shift as old alliances give way to new ones. With the UAE hiking its stake in Italy by 50% over five years, both countries stand to gain.
For Italy, Gulf wealth brings life to its plans for growth at home and help for Africa. For the UAE, Italy gives a foot in the door to wider European markets, plus a friend at the EU trade talks table.
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