The United Arab Emirates announced that it will continue its efforts of economic diversification and has selected Kazakhstan as a crucial partner to expand trade cooperation in renewable energy, infrastructure, aviation, maritime & land transportation, space exploration, and the technology sector, according to media reports.
Suhail bin Mohammed Al Mazrouei, UAE Minister of Energy and Infrastructure, told the media, “The UAE is implementing a forward-looking vision to expand cooperation in these fields. More recently, we announced the Net Zero by 2050 strategic initiative, making the UAE the first in the Mena region to do so. As part of this goal, we plan to invest Dh600 billion ($163 billion), which includes funding for the development of technologies such as Carbon Capture, Utilisation, and Storage (CCUS), electrolysers for green hydrogen, storage solutions for renewables, as well as smart grid and monitoring systems will be essential.”
He also added saying that this initiative is a major catalyst to drive cooperation, investment and trade across all sectors and the emirate puts its best foot forward to become more climate and environment conscious.
The bilateral relationship between the two countries began 29 years ago, where they established a diplomatic relationship. From 2016-2020, the total non-oil trade between our two countries increased from $246 million to $470 million. The UAE has also invested close to $4 billion in the Kazakhstan economy since 1991, proving the growing partnerships and friendship between the two nations. The recently signed partnership agreement is aimed at supporting UAE investors in the field of research, exploration and extraction of mineral resources within Kazakhstan.