Dubai Chambers, Italy’s Assolombarda deepen business ties as trade hits $13.9 billion

Dubai Chambers has signed a memorandum of understanding with Assolombarda, Italy’s largest regional business association, to expand trade and investment ties between Dubai and Italy.

The agreement connects businesses in Dubai with Assolombarda’s network of around 7,000 companies across Milan, Lodi, Monza and Brianza, and Pavia, creating opportunities for investment, partnerships and cooperation across sectors of mutual interest.

The partnership comes as Dubai-Italy non-oil trade reached $13.9 billion in 2025, up 18% from the previous year. The number of Italian companies registered as active members of the Dubai Chamber of Commerce has also increased by more than 400% over the past five years to 1,700 at the end of 2025. Another 160 Italian companies joined during the first half of 2026.

The agreement will support business delegations, establish joint events and knowledge-sharing initiatives, and create new opportunities for family-owned businesses through cooperation between the Dubai Centre for Family Businesses and Assolombarda’s Family Business Network.

The two organizations will encourage the exchange of expertise and best practices and explore opportunities to strengthen commercial ties between the two markets.

“We are committed to expanding international cooperation and building stronger partnerships that support the growth of trade and investment between Dubai and global markets. 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,” said Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers.

Key features also include synergies between networks dedicated to family businesses and the launch of an Annual Business Roundtable to ensure continuous, structured cooperation.

“This initiative transforms traditional bilateral trade into a systemic partnership,” said Alvise Biffi, president of Assolombarda. He noted that the agreement would create ‘privileged expansion channels’ for its member companies, reinforcing Dubai as a strategic hub for Italian manufacturing and services in the Gulf region.

Biffi also added that Assolombarda will soon open an operational office in Dubai, further consolidating the industrial and technological alliance between Italy and the Emirates.

The agreement was signed during a Dubai Chambers business seminar attended by 80 representatives from the two business communities, including 33 Italian companies.

The event explored opportunities across industry, innovation and entrepreneurship, including the use of emerging technologies such as agentic AI to improve business operations and support decision-making.

The two sides also discussed collaboration between institutions, startups and investors, including through joint ventures and business incubator programs.