Italy's Meloni Bags UAE Investment Pledge Worth $40 Billion
The United Arab Emirates plans to invest $40 billion in Italy, the two countries said at a bilateral summit in Rome, without providing any time frame. Italian Prime Minister Giorgia Meloni has pursued stronger ties with Gulf countries since taking office in 2022, ignoring concerns over human rights issues raised by political opponents. Under her watch, Italy lifted arms sales embargoes for the UAE and Saudi Arabia imposed by previous governments due to the war in Yemen.
- This investment pledge marks a significant shift in Italy's foreign policy priorities, as it seeks to strengthen ties with Gulf countries that have been criticized for their human rights records.
- How will this partnership impact Italy's economic growth, particularly in the renewable energy sector, and what are the potential implications for EU policymakers?