Italy supports UAE’s efforts to promote sustainable future

Sajjad Ahmad, Deputy Business Editor

Italy fully supports the UAE Government’s vision to build a sustainable future and its transition towards a green economy, this was revealed during the opening day of WETEX (Water, Energy, Technology, and Environment Exhibition) and Dubai Solar Show.

Italy is the 4th biggest global supplier of technologies for the UAE renewable energy market and Italian companies are cooperating with various UAE organisation to accelerate the sustainable economic growth.  

Italy celebrated on Tuesday the opening of WETEX  and Dubai Solar Show at the Dubai World Trade Centre with 51 Italian companies, its largest presence ever.

Sheikh Ahmed Bin Saeed Al Maktoum, Chairman of the Dubai Supreme Council of Energy, inaugurated the 24th WETEX and Dubai Solar Show. Sheikh Ahmed during his tour of the show also visited the Italian stand.

Organised by the Italian Trade Agency (ITA) in cooperation with the Embassy of Italy in the UAE and the Consulate General of Italy in Dubai, the Italy Pavilion (hosting 45 of the 51 Italian exhibitors) is located in Hall 6 and houses companies specialised in the manufacturing of components and providing technologically advanced solutions for the renewable energy sector.

WETEX plays an important role in driving discussions around the topic and presenting the latest technologies for a greener future and economy.

Technologies for the renewable energy sector have been steadily increasing over the last years, reaching a value of euro 4.6 billion in 2021; Italy’s global reputation as having a strong tradition in manufacturing has been further bolstered thanks to an increase of 15.6% to euro 2.7 billion in the overall country’s export from the previous year.

Italy is at the forefront when it comes to circular economy application in Europe, and its national recovery plan (PNRR) dedicated over two billion euros to applying efficient circular economy strategies, providing infrastructure for green and resilient waste management and collection.

At 79.5%, Italy recycles more special and urban refuse than any other European county (Germany 69%, France 66% and Spain 49%), and is well ahead of the European average at 48.6%. A result that leads to an annual reduction in emissions amounting to 23 million equivalent tonnes of petrol and 63 million equivalent tonnes of CO2. Around 50% of the recycled waste is turned into materials that can be reused in the construction and infrastructure sectors.

With a score of 268 points out of 300, Italy leads the way in Europe with its efficiency index for using resources. An indicator that takes into consideration productivity when using raw materials, water, energy and the intensity of GHG emissions. A figure above the European average (147 points) and that of Germany (157), France (152) and Spain (142).

Giuseppe Finocchiaro, Consul General of Italy in Dubai, said: “Italy’s relation with the UAE is long-standing and diverse, with cooperation in many different sectors and potential for more. The main areas of mutual interest range from innovation to renewable energy and water solutions, from technology to infrastructure, SMEs, startups, smart cities and the circular economy - all key in the UAE Vision to build a future economy.

Italy is Europe’s second largest manufacturer and the world’s sixth country exporting technologies used exclusively for renewable energy. This puts Italian companies in a strong position to share their expertise at the 24th edition of WETEX. In order to affirm its pledge to a green transition, our country has developed an Integrated National Plan for Energy and Climate, which aims to increase its share of renewables to 32 per cent by 2030.”

When it comes to the UAE, Italy is the fourth exporting country of technologies used exclusively in renewable energy sources. Air or vacuum pumps, air or other gas compressors and fans, extractor or recycling hoods with built-in fans, account for almost 50% of the market share, while diodes, transistors and photosensitive semiconductor devices, including photovoltaic cells are part of the category that saw the biggest spike in request from one year to the other (+127% in the first semester of 2022), followed by engines and driving machines with 56% increase in the value of goods imported to the UAE until June 2022.

Amedeo Scarpa, Italian Trade Commissioner to the UAE said, “Italy and the United Arab Emirates are fully aligned in their efforts to tackle the current climate challenges and WETEX is the ideal platform to further develop the bilateral trade relationship in the renewable energy sector.

“With 154 million euro worth of products exported to the UAE in 2021, Italy is the second biggest European supplier to this country when it comes to technologies for the renewable energy sector. The Italian export industry has been consolidating and growing over the years and registered a 14% increase last year versus the 2020. The overall trade volume between the UAE and Italy reached over 7 billion euro in 2021. Italy exported goods of 5 billion euro to UAE and imported 2 billion euro of products from the UAE. In the first half of 2022, the trade volume between the two nations saw a 13.8% growth reaching 4 billion euro, compared to 3.5 billion euro for same period of 2021.”

“We are back at the WETEX with even more skilled Italian companies as sustainability is a priority in our agenda; our motto this year is “sustainability is sustainabITALY,” concluded Scarpa.