The UAE Minister of Industry and Advanced Technology, H.E. Dr. Sultan Ahmed Al Jaber, and TotalEnergies CEO, Mr. Patrick Pouyanné, co-chaired the second plenary meeting of the UAE-France High-Level Business Council in Paris. In the presence of the French Minister of Economy, Finance, and Digital Sovereignty, H.E. Bruno Le Maire, both sides affirmed their commitment to fortifying the strategic bilateral relationship.
H.E. Dr. Sultan Al Jaber emphasized the Council’s pivotal role in enhancing economic ties and mobilizing private sectors for sustainable collaboration. Minister Bruno Le Maire stressed the ambition to develop concrete joint projects contributing to innovation, industrial development, and ecological transition.
The meeting saw the signing of an MoU for the “UAE-France Bilateral Climate Investment Platform,” facilitating joint investments in clean energy sectors, particularly focusing on decarbonizing hard-to-abate industries. The Platform includes prominent companies like ADNOC, Masdar, TotalEnergies, Bpifrance, and CMA-CGM.
Additionally, TotalEnergies Renewables and Masdar signed an MoU for collaboration in developing Renewable Energy Projects in emerging markets, exploring solar and wind energy initiatives in Central Asia and Africa.
The Council reviewed progress in working groups, highlighting partnerships such as TotalEnergies and Masdar’s Sustainable Aviation Fuel production and Airbus-Masdar collaboration for sustainable aviation fuel market development. Other collaborations cover geothermal energy projects, green alternative fuels, water infrastructure in Uzbekistan, and more.
H.E. Dr. Sultan Al Jaber commended France’s commitment to climate action at COP28, praising TotalEnergies for endorsing the Oil and Gas Decarbonization Charter. The meeting concluded with the approval of the Council’s 2024 roadmap, aiming to accelerate collaborative projects.
Bilateral trade between the UAE and France increased by 12.5% in the first nine months of 2023, reaching AED 25.1 billion. The UAE hosts over 600 French companies, employing over 30,000 people, while the UAE is France’s second-largest GCC investor.
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