UAE and Japan explore cooperation avenues in energy, industrial and economic sectors
On Tuesday, the United Arab Emirates and Japan confirmed their cooperation in the arena of energy market, confirmed the Ministry of Economy, Trade and Industry (METI).
“METI Minister Hagiuda Koichi held a video conference with Suhail Mohamed Al Mazrouei, Minister of Energy and Infrastructure of the United Arab Emirates (UAE), to discuss working toward stability in the international crude oil market. The two ministers also discussed stronger bilateral cooperation in the clean energy field, of hydrogen, fuel ammonia, and CCUS,” the ministry said.
For couple of weeks now, the two countries had been exploring different ways to strengthen economic, industrial and energy cooperation towards low carbon growth opportunities.
Working on energy cooperation
Dr Sultan Al Jaber, Minister of Industry and Advanced Technology, Special Envoy for Climate Change, and Abu Dhabi National Oil Company (Adnoc) managing director and group chief executive had met leading officials of Japan including Hagiuda Koichi, Minister of Economy, Trade and Industry; Tsuyoshi Yamaguchi, Minister of Environment; and Odawara Kiyoshi, State Minister of Foreign Affairs in past weeks.
UAE instrumental in stabilizing global crude market
Last week’s meeting, Hagiuda had expressed his gratitude to UAE for its crude oil’s reliable supply to Japan amid soaring global prices of oil led by Ukraine war. He further asked for a stabilized global market of crude oil through cooperation from UAE by ensuring bolstered production to keep up the oil supply.
Memorandum of Cooperation on Hydrogen
In April, the governments of UAE and Japan had signed the Memorandum of Cooperation on Hydrogen. The ministers of both countries acknowledged and lauded the progress under the project.
Marking the 50th anniversary of UAE and Japan’s diplomatic relations
Hagiuda and Al Mazrouei have agreed to work in close cooperation and maintain the strong relationship between the countries, marking this year as the 50th anniversary of diplomatic relations being established between them.