Beside the fact of being partner of an ambitious project developed by the Italian Chamber in the United Arab Emirates, Tecra confirms its presence in the Middle East having singed a valuable cooperation with Atlas Flow General Trading LLC. This partnership will assure to consolidate our presence not only in the Emirates and in Dubai (in particular), but also in Oman, Kuwait, Iraq, Iran and Qatar. .
Thanks to the partnership with the Italian Chamber of Commerce in Dubai we took the first steps in the Emirates and Middle East market. After more than a year, we are satisfied of the achieved results because we had the possibility to get to know a new and unexplored market. The crucial, essential element has been the presence of local representatives in Dubai, experts in the market and in the culture.
Now our biggest challenge is not only continuing to reinforce our presence, but also approaching local important economic operators. For this reason, we think that the agreement with Atlas Flow Trading LLC will be the winning choice.
Long-standing member of OPEC, the Emirates together with Saudi Arabia, Iran and Iraq is one of the main producers and exporters of Oil and natural gas whose revenue is consider the most important element of GDP with positive consequences on satellite activities.
It has been possible due to important stock in Abu Dhabi, Dubai, Sharijah and Ras al-Khaimah and a developed infrastructure.
It is estimated that oil&gas market will increase in the coming years due to more investments in explorations following the guidelines of the so-called Integrated 2030 Strategy, even if there is a countertrend due to a transition towards renewable sources of energy as it occurs in Western countries where authorities more and more try to change the energy mix. In the case of the Emirates, these decisions will obviously impede oil&gas upstream growth.
More over, the current conflicting situation in the Middle East generated instability in markets and in the global geopolitical situation especially after the imposition of sanctions that, in turn, influence trade especially with some of the Countries of the Gulf area.
To conclude, even if it is know how difficult is enter the Emirates market, Made-in-Italy products is still considered a high-quality; thus giving to Italian companies good opportunities of job and cooperation.
In the foreseeable future, green transition and investments in oil&gas will provide companies with new business opportunities, but companies themeselves will be able to promote innovative solutions in line with the times.
*2030 Strategy establishes investments at the mid/down level, considering also a more economic differentiation.
