20 Novembre 2012
During a three-day visit to the Middle East, Italian Prime Minister Mario Monti has strengthened the bilateral cooperation between Italy and the United Arab Emirates in the political, economic and cultural and defence areas. The UAE is an important commercial hub to develop new business opportunities in the Middle East itself, but also and more broadly in Asia and Africa.
In a joint declaration signed by Mr Monti and Sheikh Mohammed bin Rashid Al Maktoum, Vice President and Prime Minister of the UAE, the two countries have committed to strengthen bilateral relations, which have already developed significantly in the last few years, and undertook to further enhance investments in each other’s industries and tourism sector. In the cultural field, they will promote cooperation in the fields of high education, music and cinema as well as work together to prevent the illegal sale of artworks.
Upon arriving in Dubai, the Italian Prime Minister gave a speech in the Chamber of Commerce and Industry, assuring that the euro zone was resolving its problems and that it will emerge healthier and stronger than before: “The euro area is overcoming its crisis […] I am convinced the budgetary consolidation and reform efforts going on in the euro area as well as the reinforcement of the EMU architecture will see us emerging stronger soon. With a budget deficit below 3% this year and structural balance next year, which means a primary surplus of around 5%, Italy's public finances are healthy. The same can be said of the euro area aggregate figures. Compare, for example, with the situation in the UK, the US or Japan. The markets have started to notice and are coming back to Italy”.
“The United Arab Emirates is an important partner and commercial hub in the region”, the Prime Minister also said, “and the development of a partnership with Italy is in the interest of Italian firms to be able to grow and take advantage of the business opportunities in the Middle East, Africa and Asia. “This can help the overall growth of the Italian companies, boosting their home base and main production facilities in Italy.”
