The first plenary meeting of the UAE-France high-level Business Council was held in Abu Dhabi on Monday, with H.E Dr. Sultan Al-Jaber, UAE Minister of Industry and Advanced Technology, and Patrick Pouyanne, chairman and CEO of TotalEnergies. The meeting was further reinforced by the presence of Bruno Le Maire, French Minister of Economy, Finance and Industrial and Digital Sovereignty. The meeting emphasized the significance of the council, as it has been mandated by the leaders of both countries to strengthen the partnership between the UAE and France in various key sectors.
The UAE-France high-level Business Council has taken a comprehensive approach to significantly deepen and broaden economic ties between the two nations. This is achieved by fast-tracking practical and result-oriented programs and initiatives, with a focus on energy, clean energy and climate action, transportation and logistics, manufacturing, technology, and bilateral investments. The council represents a significant shift in the way joint programs and investments are identified and delivered, and it serves as a platform for expanding the already strong economic cooperation between the business communities of both countries, according to Khaleej Times. The establishment of the council comes at a crucial time for the UAE, as it is the year of Sustainability, and the country is set to host the COP28, a highly important climate conference since the Paris Agreement.
The UAE-France high-level Business Council will work jointly to deliver impactful joint projects and initiatives that support the drive for transformational progress in climate action at the COP28. This will focus on mitigation, adaptation, financing, and loss and damage across all four pillars. The council places importance on engaging the private sector from both nations and building on existing successful economic cooperation between French and Emirati companies, such as the partnership between Strata and Airbus. It aims to foster this type of cooperation in all fields, taking advantage of investment opportunities in key strategic sectors as outlined in France 2030 and Make it in the Emirates.
The UAE is home to the largest number of French establishments in the Middle East, with around 600 subsidiaries employing over 30,000 people. Conversely, the UAE is the second largest investor from the Arabian Gulf in France. Three working groups—one each for Energies and Climate (I), Transportation and Logistics (II), and Investments—were established by the high-level Business Council (III). On the way to COP28 in the Emirates, each working group, made up of 10 French and Emirati businesses, including SMEs and startups, will collaborate to identify specific joint projects and initiatives of shared interest and recommend implementation roadmaps, with an immediate focus on those addressing energy security, strengthening supply chains, and climate action.
TotalEnergies and ADNOC have already begun working together to reduce methane emissions as a result of the working group’s efforts in this area. The two companies are committed to promoting bold action along the entire value chain and at a global level to completely eradicate methane emissions in the oil and gas industry.
