Dubai is looking to deepen its business relationship with Italy through a new partnership designed to help companies in both markets find partners, explore investment opportunities and expand into new markets.

Dubai Chambers has signed a memorandum of understanding with Assolombarda, a major Italian business association representing around 7,000 companies across Milan, Lodi, Monza and Brianza, and Pavia. The agreement was signed on 1 October 2026 during a business seminar at Dubai Chambers' headquarters.

The timing reflects growing commercial ties between the two markets. Dubai and Italy recorded AED 51.1 billion in non-oil trade in 2025, up 18% from the previous year. Italian businesses are also building a stronger presence in Dubai. By the end of 2025, around 1,700 Italian companies were active members of Dubai Chamber of Commerce, with another 160 joining in the first half of 2026.

The new agreement aims to build on that momentum by making it easier for businesses to connect and work together. Plans include business delegations, joint events, knowledge-sharing initiatives and closer cooperation between family-owned companies.

Assolombarda also plans to establish an operational office in Dubai, giving its members a local point of contact as they explore opportunities in the UAE and the wider Gulf region.

For Dubai, the partnership is another step towards strengthening its position as an international business hub. For Italian companies, it could provide a more direct route into a region that connects markets across the Middle East, Africa and Asia.

WHAT HAPPENED?

Dubai Chambers and Assolombarda have formalised a partnership aimed at encouraging greater trade, investment and business cooperation between Dubai and Italy.

The memorandum was signed in the presence of Mohammad Ali Rashed Lootah, President and CEO of Dubai Chambers, and Lorenzo Fanara, Italy's ambassador to the UAE. Representatives from companies operating in Dubai and businesses associated with Assolombarda also attended the event.

The agreement sets out a framework for cooperation rather than committing either side to a specific investment amount.

Both organisations plan to support business visits, joint events and networking opportunities that can introduce companies to potential partners and help them identify areas for collaboration.

Family-owned businesses are also part of the initiative. The Dubai Centre for Family Businesses, which operates under Dubai Chambers, will work with Assolombarda's Family Business Network to encourage the exchange of experience and practical knowledge.

The aim is to help businesses build lasting relationships and learn from each other's approaches to growth and management.

However, signing the agreement does not automatically mean new contracts or investments will follow. Those outcomes will depend on the opportunities businesses identify and whether they decide to pursue them.

WHY ITALY MATTERS TO DUBAI

Italy has a well-established manufacturing base, with strengths in machinery, industrial equipment, automotive components, fashion, footwear, leather goods and food products.

These sectors offer potential opportunities for Dubai-based businesses involved in trade, logistics, distribution and financial services.

Dubai's international connections make it a practical base for companies looking to reach customers across the Gulf and surrounding markets. Italian manufacturers could use the emirate to connect with distributors, build commercial relationships and assess regional demand without setting up separate operations in every country they want to serve.

The relationship also works in the other direction. Dubai-based companies can benefit from access to Italian manufacturers, specialist suppliers, technology providers and established consumer brands.

The potential extends beyond buying and selling goods. Businesses could also explore service partnerships, technology projects, industrial cooperation and joint ventures.

The new agreement is intended to help companies identify these opportunities through more direct and organised business connections.

AED 51.1 BILLION IN TRADE PROVIDES A STRONG STARTING POINT

The existing trade relationship gives the partnership a substantial commercial foundation.

Non-oil trade between Dubai and Italy reached AED 51.1 billion in 2025, marking an 18% increase from 2024. The growth highlights the scale of commercial activity already taking place between the two markets.

Rather than building a relationship from scratch, Dubai Chambers and Assolombarda are looking to expand on existing connections and encourage businesses to explore additional sectors.

Stronger trade links can create opportunities for manufacturers, freight operators, distributors, professional services firms and financial institutions. They can also encourage companies to move beyond one-off transactions and develop longer-term commercial relationships.

Still, the existing trade figure needs to be viewed in context. The AED 51.1 billion represents non-oil trade recorded in 2025; it is not the value of the new agreement or a commitment to future investment.

The memorandum also does not set a specific trade-growth target. Its purpose is to make it easier for businesses to find opportunities that could contribute to further growth over time.

ASSOLOMBARDA: A NETWORK OF 7,000 COMPANIES

Assolombarda represents businesses across several important commercial and industrial areas of northern Italy, including Milan, Lodi, Monza and Brianza, and Pavia.

Its network gives the partnership access to a broad range of companies that may be interested in entering the UAE market, finding local distributors, developing partnerships or exploring investment opportunities.

The planned Dubai office could make that process more straightforward. A local presence would help Assolombarda maintain closer contact with businesses in the region, understand market conditions and support its members as they assess potential opportunities.

For companies unfamiliar with the Gulf, entering a new market can involve several challenges. They need to identify reliable partners, understand local regulations, evaluate customer demand and establish suitable distribution channels.

Business associations can help with these early steps by arranging meetings, sharing market information and connecting companies with relevant organisations.

That support can make the process easier, but it cannot guarantee commercial success. Companies will still need to assess each opportunity carefully, find suitable partners and determine whether the potential returns justify the investment.

FAMILY BUSINESSES ALSO FEATURE IN THE AGREEMENT

One important part of the partnership is its focus on family-owned businesses.

Family enterprises play a significant role in both Italy and the UAE. They range from specialist manufacturers and trading firms to large companies operating across several markets.

As these businesses grow, they often face similar challenges, including succession planning, corporate governance, professional management and international expansion.

Cooperation between the Dubai Centre for Family Businesses and Assolombarda's Family Business Network is intended to encourage the exchange of practical experience and ideas.

Companies could learn from one another on issues such as leadership transitions, long-term planning, governance structures and managing relationships between family ownership and professional management.

The initiative could also help family businesses build connections beyond their home markets. Italian firms may explore Dubai as a base for regional operations, while Dubai-based businesses could look to northern Italy for suppliers, partners and expansion opportunities.

The real test will be whether these exchanges lead to practical results, such as new partnerships, stronger business relationships and sustainable growth.

WHICH SECTORS COULD BENEFIT?

Manufacturing and industrial technology

Italy's manufacturing expertise creates opportunities in machinery, industrial components, automation and specialised equipment. Dubai-based distributors and industrial businesses could strengthen their relationships with Italian suppliers, while Italian manufacturers could use Dubai to reach customers across the Gulf.

Digital services and technology

The partnership could also open the door to cooperation in business software, digital commerce and industrial technology. Italian technology companies may find opportunities to connect with regional customers, while businesses in Dubai could explore partnerships with established European providers.

Food and consumer goods

Food products and consumer goods are natural areas for commercial cooperation between the two markets. Businesses could explore distribution agreements, sourcing arrangements and partnerships designed to bring products to new customers.

Pharmaceuticals and healthcare-related products

Pharmaceutical products are another area where Dubai Chambers sees potential for closer commercial ties with Italy. Possible opportunities include supply-chain cooperation, distribution arrangements and partnerships between companies operating in related industries.

These sectors represent potential areas for cooperation, not investments or projects already confirmed under the agreement.

WHY DUBAI IS PURSUING MORE INTERNATIONAL PARTNERSHIPS

Dubai has spent years developing its position as a commercial hub for companies looking to connect with markets across different regions.

Its logistics infrastructure, financial services, free-zone ecosystem and international business networks help companies coordinate trade and operations across borders.

For Dubai Chambers, working with overseas business associations is one way to help local companies explore international markets. These partnerships can provide introductions, market knowledge and access to potential customers and business partners.

The agreement with Assolombarda fits into that wider effort. By connecting Dubai-based businesses with a network of around 7,000 Italian companies, the two organisations are creating another channel for exploring opportunities in one of Europe's major manufacturing economies.

Smaller businesses could benefit alongside larger firms. Access to international contacts and potential distributors can be particularly valuable for companies that lack the resources to build those networks independently.

However, expanding internationally comes with costs and risks. Businesses must consider competition, regulatory requirements, currency movements, transport expenses and differences in customer preferences before committing resources to a new market.

The partnership can help companies make connections, but turning those introductions into profitable business will require careful planning and execution.

WHAT THE AGREEMENT MEANS FOR ITALIAN COMPANIES

For Italian businesses, Dubai offers a potential base for reaching customers across the Gulf and exploring opportunities in neighbouring markets.

Its international connections can help companies coordinate distribution, meet prospective investors and build relationships with buyers, suppliers and service providers.

Assolombarda's planned Dubai office could provide additional support by giving members a local contact and helping them navigate the regional business environment.

This may be particularly useful for manufacturers and family-owned firms with established products but limited experience operating in the Gulf.

Dubai also stands to benefit. Stronger links with Italian companies could broaden its network of suppliers, investors and commercial partners. Some businesses may eventually decide to establish local offices or expand existing operations if market demand supports the move.

For now, the focus is on creating the conditions for cooperation. The clearest evidence of progress will come from business delegations, signed contracts, investment decisions and partnerships that emerge in the months ahead.

FACT CHECK METER

FACT METER: KEY FIGURES AND AGREEMENT DETAILS REQUIRE SOURCE VERIFICATION

STATUS: AGREEMENT SIGNED — COMMERCIAL OUTCOMES YET TO EMERGE

CONFIRMED: Dubai Chambers signed a memorandum of understanding with Assolombarda on 1 October 2026 to strengthen trade, investment and business cooperation between Dubai and Italy.

CONFIRMED: Assolombarda represents around 7,000 companies across Milan, Lodi, Monza and Brianza, and Pavia. The association plans to establish an operational office in Dubai.

CONFIRMED: Dubai–Italy non-oil trade reached AED 51.1 billion in 2025, an increase of 18% from the previous year. Dubai Chamber of Commerce had around 1,700 active Italian company members at the end of 2025, with another 160 joining during the first half of 2026.

IMPORTANT DISTINCTION: The memorandum establishes a framework for cooperation. It does not guarantee new contracts, specify a fixed investment amount or set a target for future trade growth.

AWX VERDICT: The agreement strengthens institutional links between Dubai and northern Italy's business community. Its impact will depend on whether those connections lead to new partnerships, commercial activity and investment.

Editorial note: The underlying figures and announcements should be checked against the original sources before publication. A numerical fact-check score should not be presented as verified without a documented review.

WHAT TO WATCH NEXT

1. Assolombarda's Dubai office: Details about its opening and operations will show how the association plans to support its members in the region.

2. Business delegations: Trade missions and joint events could bring companies together to explore specific commercial opportunities.

3. New contracts and investments: Announced agreements, joint ventures and expansion plans will help demonstrate whether the partnership is delivering results.

4. Family-business cooperation: Activities involving the two family-business networks could create opportunities to exchange expertise and develop cross-border relationships.

5. Bilateral trade figures: Future data will help show whether trade continues to grow and whether commercial activity expands into additional sectors.

THE AWX BOTTOM LINE

Dubai Chambers' partnership with Assolombarda is designed to make it easier for businesses in Dubai and Italy to connect, explore investment opportunities and expand internationally.

The agreement builds on AED 51.1 billion in non-oil trade recorded in 2025 and links Dubai with an Italian business association representing around 7,000 companies. Planned business delegations, joint events and family-business initiatives could help companies identify partners and develop new commercial relationships.

But the agreement is a starting point, not a guarantee of immediate investment or faster trade growth. Its success will depend on whether businesses turn those connections into viable partnerships, market expansion and long-term commercial activity.

For Dubai, the deal strengthens its links with a major European business network. For Italian companies, it offers another route into the Gulf and surrounding markets.

The next chapter will depend on what businesses do with the opportunities created.

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