The UAE-Italy Forum for Entrepreneurs was recently held in Milan with the participation of 30 UAE SMEs, members of the National Program for Small and Medium Enterprises (SMEs), operating in several sectors, and 260 Italian SMEs.

The four-day event organized the National Program for Small and Medium Enterprises (SMEs), the executive arm of the SME Council at the Ministry of Economy, in cooperation with Khalifa Fund for Enterprise Development, which supported the participation of several companies in the forum.

During the forum, more than 110 bilateral trade meetings were held between UAE and Italian companies. Three commercial contracts were signed between companies involved in food, education and accessories.

Dr. Adeeb Al-Afifi, Director of the National Program for Small and Medium Enterprises (SMEs), confirmed that there are 8,765 brands and more than 600 Italian companies in the UAE market. , Tourism and travel, renewable energy.

Al-Afifi said that the UAE was aware of the importance of small and medium-sized startups in supporting the national economy and its position in supporting the GDP, so it was quick to invest in this sector. And globalization into this vital sector.

He explained that the SME sector currently represents more than 98% of the total number of companies operating in the UAE.

For his part, UAE Ambassador to the Republic of Italy, Omar Obeid Mohammed Al-Shamsi, said that the trade exchange between the two countries has witnessed a significant growth, and the volume of non-oil trade between the two countries reached $ 7.6 billion (28 billion dirhams) in 2018, a figure that can be increased through Collaborate and promote joint cooperation, and seek new cooperation opportunities in important areas, including the SME sector.