Sharjah 24: Sharjah Chamber of Commerce and Industry (SCCI) has briefed a delegation from the Czech-Italian Chamber of Commerce and several prominent Italian companies on Sharjah’s attractive investment environment, its diverse economy, and the investment opportunities and advantages it offers to companies and businessmen across a number of strategic sectors.
The presentation took place during the Sharjah-Italy Business Forum, which was held at the SCCI today as part of the delegation’s visit to Sharjah. In attendance were Abdullah Sultan Al Owais, Chairman of the Sharjah Chamber of Commerce and Industry, HE Antonio Rotondo, Chairman of the Czech-Italian Chamber of Commerce, several members of the SCCI board, Mohammed Ahmed Amin Al Awadi, Director-General of SCCI, Abdulaziz Mohammed Shattaf, Assistant Director-General of the Communication and Business Sector at the Sharjah Chamber, and Fatima Khalifa Al Mokarrab, Director of SCCI's International Relations Department. The forum also welcomed a number of officials and representatives of Sharjah government agencies and institutions, as well as a sizeable turnout of businessmen from leading Emirati and Italian companies.
More than 15 companies joined the Italian delegation, with specialties in a range of strategic sectors including sustainable agriculture, manufacturing, engineering and architecture, construction equipment and machinery, furniture manufacture and production, fashion, design, information technology, food and beverages, fish farming, digital technologies, cybersecurity, commercial services, and construction.
The forum put the spotlight on opportunities to expand partnerships and increase the Italy-Sharjah trade exchange by paving the way for businessmen from both sides to meet and discuss areas of potential collaboration, as well as expand the horizons of mutual investment endeavours in a way that serves both sides. During the event, bilateral business meetings were held for businessmen from Sharjah and Italy to explore potential partnerships, avenues of cooperation, and opportunities for exchange, as well as discuss existing investment prospects.
Cooperation agreement
The two chambers of commerce also signed a Memorandum of Understanding (MoU) with an eye to boosting trade relations and developing and facilitating economic cooperation between the two countries’ business communities.
The MoU stipulated the exchange of trade delegations and the expansion of talks on exports and the economy. It seeks to support follow-up visits to this end, encouraging joint efforts to establish and spread a commercial network that facilitates the circulation of viable business opportunities in both countries among members of the two chambers.
Abdullah Sultan Al Owais said the forum is a tangible manifestation of the increasingly robust economic ties between the UAE and the Republic of Italy, which witnessed a quantum leap last year as the two countries announced the advancement of their relations to a strategic partnership. This milestone is a positive indicator of what the two countries can accomplish in the future by leveraging their economic capabilities and strengths.
Al Owais highlighted the non-oil trade exchange volume between Italy and the UAE, which reached AED 7 billion in 2022. The trade exchange with Sharjah alone accounted for AED 673 million of that total, and the Emirate has welcomed over 575 Italian companies. Through the forum, he said, the Sharjah Chamber is keen to strengthen the UAE’s close ties with Italy by building economic partnerships that contribute to their further development.
For her part, Fatima Khalifa Al Mokarrab highlighted forum’s momentous role in creating an environment that fosters communication between the two countries’ business communities, as it brings together elite managers, CEOs, and businessmen representing numerous critical sectors from both the UAE and Italy. The SCCI is fully dedicated to further bolstering its strong relationship with the Italian business community and providing the maximum possible facilitations for potential investors in Sharjah, leveraging the Emirate’s abundant advantages and promising opportunities.
Antonio Rotondo said the forum will serve as a launching point for promising new investment partnerships with Sharjah across numerous economic and commercial sectors. The presence of the Czech-Italian Chamber of Commerce in Sharjah, accompanied by such a large number of investors, reflects the SCCI’s commitment to creating an ideal space to host them alongside the local business community in Sharjah, with the aim of forging deals that benefit both countries.
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