The second plenary meeting of the UAE-France High-Level Business Council was co-chaired by H.E. Dr. Sultan Ahmed Al Jaber, UAE Minister of Industry and Advanced Technology, and Mr. Patrick Pouyanné, CEO of TotalEnergies, in Paris. Joined by H.E. Bruno Le Maire, French Minister of Economy, Finance, and Digital Sovereignty, both sides reaffirmed their commitment to strengthening the strategic bilateral relationship. Dr. Sultan Al Jaber highlighted the Council’s vital role in fostering economic ties and engaging private sectors for sustainable collaboration. Minister Bruno Le Maire underscored the ambition to develop tangible joint ventures contributing to innovation, industrial growth, and ecological transition.
During the meeting, an MoU was signed for the “UAE-France Bilateral Climate Investment Platform,” facilitating collaborative investments in clean energy sectors, with a focus on decarbonizing challenging industries. Key participants in the Platform include ADNOC, Masdar, TotalEnergies, Bpifrance, and CMA-CGM. Additionally, TotalEnergies Renewables and Masdar inked an MoU to collaborate on Renewable Energy Projects in emerging markets, exploring solar and wind energy initiatives in Central Asia and Africa. Progress in working groups was reviewed, showcasing partnerships such as TotalEnergies and Masdar’s Sustainable Aviation Fuel production and the Airbus-Masdar collaboration for sustainable aviation fuel market development. Other collaborations encompass geothermal energy projects, green alternative fuels, and water infrastructure in Uzbekistan.
Dr. Sultan Al Jaber applauded France’s commitment to climate action at COP28, commending TotalEnergies for endorsing the Oil and Gas Decarbonization Charter. The meeting concluded with the approval of the Council’s 2024 roadmap, aiming to expedite collaborative projects.
Bilateral trade between the UAE and France surged 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 individuals, while the UAE stands as France’s second-largest GCC investor.
