January 31, 2023
2 mins read

UAE, France hold high-level business meet

The establishment of the Council coincides with a very important year for the UAE, the “Year of Sustainability” and the year that UAE hosts the COP28…reports Asian Lite News

UAE Minister of Industry and Advanced Technology Dr. Sultan bin Ahmed Al Jaber and Chairman and CEO of TotalEnergies Patrick Pouyanne chaired the first plenary meeting of the UAE-France High-Level Business Council in Abu Dhabi.

The meeting, which was attended by Bruno Le Maire, French Minister of Economy, Finance and Industrial and Digital Sovereignty, underlined the mandate bestowed on the Council by the leadership of both countries and set the framework for a comprehensive approach to significantly broaden and deepen the UAE-France economic ties by fast-tracking pragmatic and result-oriented programmes and initiatives with an initial focus on Energy, Clean Energy and Climate Action, Transport & Logistics, Manufacturing, Technology, and bilateral Investments.

The Council represents a step change in the approach to identifying and delivering strategic joint programs and investments and will serve as a tangible outlet to expand the already vibrant economic cooperation that exists between the two countries’ business communities.

The establishment of the Council coincides with a very important year for the UAE, the “Year of Sustainability” and the year that UAE hosts the COP28, the most critical climate conference since the Paris Agreement.

The work of the Council will synergise the efforts of both sides towards delivering impactful joint projects and initiatives that would support the drive to deliver transformational progress at the COP28 on climate action across all four pillars but with a focus on Mitigation, Adaptation, Financing, and Loss & Damage.

The Council underscored the importance of engaging the private sectors from both countries and pledged to build on existing model economic cooperation between French and Emirati companies, such as the one between Strata and Airbus and foster it in all fields. In this regard, it was recalled that both countries are enjoying numerous investment opportunities in key strategic sectors in the framework of France 2030 and Make it in the Emirates.

The UAE already hosts the largest number of French establishments in the Middle East, with around 600 subsidiaries employing more than 30,000 people. Reciprocally, the UAE is the second-largest investor from the Arabian Gulf in France.

The High-Level Business Council set up three working groups dedicated to Energies and Climate (I), Transportation and Logistics (II), and Investments (III).

Each working group, gathering 10 French and Emirati companies, including SMEs and startups, will work together to identify concrete joint projects and initiatives of mutual interest and recommend implementation roadmaps with an immediate focus on those addressing energy security, strengthening supply chains, and climate action on the road to COP28 in the UAE.

The working group dedicated to energies and Climate has already resulted in a first engagement on methane emissions reduction between TotalEnergies and ADNOC: the two companies are jointly committed to promoting ambitious action across the entire value chain, on a worldwide scale, to eliminate methane emissions in the oil & gas industry and to mobilising all key players in the sector in order to make significant progress ahead of COP28.

ALSO READ: UAE Prez’s Pak visit called off due to bad weather

Previous Story

Rishi in trouble as recession looms

Next Story

World’s best healthcare top priority: Mohammed

Latest from -Top News

WUC Intensifies Global Call for Uyghur Justice

WUC delegation undertook a week-long advocacy tour in Germany, where it met with Turkish NGOs and community leaders….reports Asian Lite News The World Uyghur Congress (WUC) has published its monthly brief, strengthening

India Urges Bangladesh to Act on Minority Attacks

MEA spokesperson Randhir Jaiswal urged the Yunus government to probe extremist attacks on minorities….reports Asian Lite News India on Friday criticised recent comments by Bangladesh’s Home Advisor Jahangir Alam Chowdhury, asserting that

Jaffar Express Targeted Yet Again

blast happened at a distance of one kilometre from the Sultan Kot railway station….reports Asian Lite News At least seven injured as blast hits Quetta-bound Jaffar Express in Sindh’s Shikarpur district. Shikarpur

India to Join G20 Energy Talks in South Africa

The meeting is being hosted under South Africa’s G20 Presidency in the country’s KwaZulu Natal province…reports Asian Lite News Union Power Minister Manohar Lal will represent India at the G20 Energy Transitions
Go toTop

Don't Miss

‘We Must Deliver in Dubai’

COP28 President Dr. Sultan bin Ahmed Al Jaber said that

Abu Dhabi Coffee Hub takes centre stage at GFW 2024 

Organised by DXB Live and the Specialty Coffee Association (SCA)