China eyes prospects in UAE energy sector

China eyes prospects in UAE energy sector
Published: 23 July 2019 - 8:05 a.m.
By: Baset Asaba

Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi, and Xi Jinping, President of the People's Republic of China, on Monday witnessed the signing of a number of agreements between the two countries, spanning a range of sectors.

The signing of the agreements seek to further advance strategic ties between the UAE and China, opening up new partnership horizons across various fields, state news agency WAM reported.

They cover sectors including defence, trade and investment, environment and sustainability, education, ports and customs, and energy.

They include an agreement on defence and military cooperation between the two countries, a memorandum of understanding (MoU) on environment protection and conservation and an MoU on scientific and technological cooperation, with a focus on artificial intelligence technologies.

The agreements also include a deal between the UAE Office for Future Food Security and China's Ministry of Agriculture and Rural Affairs in the Inner Mongolia Autonomous Region on two projects to ensure food security advancement, and integrated farming systems.

Sultan bin Saeed Al Mansouri, Minister of Economy, and Zhong Shan, China's Minister of Commerce, also signed an MoU to encourage UAE and Chinese enterprises to engage in trade and economic cooperation endeavours with the African continent.

The two countries signed an MoU on peaceful use of nuclear energy, another to introduce the Chinese language in UAE education curricula while the Department of Culture and Tourism - Abu Dhabi signed an agreement with the National Museum of China.

Abu Dhabi National Oil Company signed an agreement with China National Offshore Oil Corporation while the Abu Dhabi Global Development Market and China's National Development and Reform Commission also signed an MoU to encourage Chinese and UAE enterprises' trade and investment opportunities.

ADGM also signed an MoU with China Everbright Group to explore and develop a joint platform that focuses on key areas including real industries and financial investments.

The signing ceremony also saw an MoU between Abu Dhabi Ports, Jiangsu Provincial Overseas Cooperation and Investment Company, and the Industrial and Commercial Bank of China and another between the Emirates Nuclear Energy Corporation and the China National Nuclear Corporation.

A joint research cooperation agreement was also inked between Khalifa University of Science and Technology and Tsinghua University.

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