UAE and France to strengthen economic, investment relations

The UAE-France High-Level Business Council held its third plenary meeting in Paris, co-chaired by Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, Managing Director and Group CEO of Adnoc, and Patrick Pouyanne, Chairman and CEO of TotalEnergies.

The meeting was attended by Eric Lombard, French Minister of Economics and Finance, Laurent Saint-Martin, French Minister of Foreign Trade, Mariam Bint Mohammed Al Muhairi, Head of the International Affairs Office at the Presidential Court, and Fahad Saeed Al Raqbani, UAE Ambassador to the French Republic, along with the participation of over 50 Emirati and French entities representing government, semi-government, and private sectors.

In his opening remarks, Dr Al Jaber conveyed the greetings of the UAE leadership, reaffirming the UAE’s long-standing bilateral relations with France spanning over 50 years and emphasised the commitment to continue strengthening the bilateral relations within the framework of a strategic partnership to achieve the shared aspirations of both nations for sustainable economic and social growth.

Dr Al Jaber emphasised that the meeting comes at a pivotal moment for both the UAE and France following the signing of the landmark ‘UAE-France Framework for Cooperation in Artificial Intelligence’ Agreement, witnessed by President His Highness Sheikh Mohamed Bin Zayed Al Nahyan and French President Emmanuel Macron. This framework aims to enhance digital infrastructure and support the development of Artificial Intelligence (AI) technologies by establishing a 1-gigawatt AI complex.

He emphasised also the important role of the council in advancing bilateral economic ties and elevating them to new heights, stressing the importance of joint work to increase cooperation and achieve tangible results in strategic and priority sectors.

Dr. Al Jaber shared the UAE experience in promoting investments that promoting sustainable economic development, citing examples of global specialised institutions and companies, such as MGX, the UAE’s world-leading AI investor, and XRG, the UAE’s newly established international energy investment company, intends to drive value through strategic investments across gas, chemicals, low-carbon fuels, clean technologies and energy infrastructure.

Eric Lombard praised the dynamism of the bilateral economic relationship between France and the UAE which has led to ambitious joint projects, particularly in artificial intelligence and ecological transition, two strategic objectives shared by our countries.

Pouyanne said he was delighted that the High Council, which he welcomed to Paris for its third plenary meeting, was continuing to foster economic cooperation between the two countries.

This structure has gradually established itself as a key player in facilitating the concrete implementation of commercial partnerships between French and Emirati companies in key areas such as energy, transport, investment and artificial intelligence. At once a forum for reflection, dialogue and action, the High Council has proved to be highly useful for the development of Franco-Emirati economic relations, which we should see continue to strengthen.

The council reviewed the achievements made through the working groups over the past year, including the activation of the AI and Advanced Technology Working Group and holding the first regional business development meeting, in Masdar City, Abu Dhabi, which aims to enhance cooperation in priority sectors and create joint initiatives among the council’s members and working groups.

The meeting engaged over 30 companies from both countries to explore new projects and economically viable opportunities.

The council also commended the diverse partnerships that exist between Emirati and French companies across various sectors including, energy, climate, transportation, logistics, and investments in infrastructure. It called for doubling efforts to expand and create new cooperation and to strengthen partnerships across various sectors to enhance industrial integration and create a more resilient economic environment.

During the meeting, several joint strategic projects were showcased, including the inauguration of the CMA Terminals container terminal at Khalifa Port on December 12, 2024. This joint venture between Abu Dhabi Ports Group (30 per cent) and France’s CMA CGM (70 per cent) represents an investment worth of Dhs3.1 billion.

As part of this project, Abu Dhabi Ports Group also launched its first inland dry port facility in Al Fayah, designed as an extension of the CMA Terminals station.

The Business Council also showcased the “TAQANA Energy Solutions” facility at the Industrial City of Abu Dhabi (ICAD), a partnership between the Arab Development Establishment and Schneider Electric.”

WAM