UAE-France High-Level Business Council Strengthens Economic Cooperation at Third Meeting

UAE-France High-Level Business Council Strengthens Economic Cooperation at Third Meeting

(IN BRIEF) At the third meeting of the UAE-France High-Level Business Council in Paris, strategic partnerships were formed to enhance collaboration in energy, renewable energy, infrastructure, and artificial intelligence. The event, co-chaired by H.E. Dr. Sultan Al Jaber and Patrick Pouyanné, underscored both nations’ commitment to accelerating economic growth and fostering sustainable development, with key partnerships signed across several sectors.

(PRESS RELEASE) PARIS, 18-Feb-2025 — /EuropaWire/ — The third plenary meeting of the UAE-France High-Level Business Council was held in Paris on February 16, co-chaired by H.E. Dr. Sultan Al Jaber, UAE Minister of Industry and Advanced Technology, and Patrick Pouyanné, Chairman and CEO of TotalEnergies. The meeting was attended by high-ranking officials, including H.E. Eric Lombard, French Minister of Economics and Finance, and H.E. Laurent Saint-Martin, French Minister of Foreign Trade, as well as representatives from over 50 Emirati and French organizations spanning government, semi-government, and private sectors.

In his opening remarks, H.E. Dr. Al Jaber conveyed greetings from the UAE leadership and highlighted the deep-rooted bilateral relationship between the UAE and France, which has spanned more than five decades. He reaffirmed the shared commitment to strengthening the strategic partnership and achieving mutual goals of sustainable economic and social development.

Dr. Al Jaber noted the importance of this meeting in the wake of the recent signing of the ‘UAE-France Framework for Cooperation in Artificial Intelligence’ Agreement. This groundbreaking agreement, witnessed by UAE President His Highness Sheikh Mohamed bin Zayed Al Nahyan and French President Emmanuel Macron, aims to advance digital infrastructure and foster AI development, with a vision of building a 1-gigawatt AI complex backed by investments of €30 billion to €50 billion.

The UAE Minister also emphasized the pivotal role of the Council in driving forward economic relations and cooperation between the two nations, particularly in strategic sectors. He highlighted UAE’s success in attracting investments that promote sustainable development, citing initiatives like MGX, a leading AI investment institution, and XRG, an international energy investment company focusing on clean technologies.

Mr. Lombard praised the dynamic economic relationship between France and the UAE, noting their shared commitment to ecological transition and AI, two key priorities for both countries. He also commended the UAE’s pledge of up to €50 billion for the development of Europe’s largest AI campus in France, an investment that further highlights both nations’ dedication to leading the AI revolution.

Mr. Pouyanné expressed his pleasure in witnessing the continued success of the High-Level Business Council in strengthening Franco-Emirati economic ties. He remarked that the council has become an essential platform for facilitating commercial partnerships between both countries in areas such as energy, investment, transport, and AI, helping to lay the foundation for future collaboration.

The meeting reviewed progress on working group initiatives over the past year, such as the activation of the AI and Advanced Technology Working Group and the successful first regional business development meeting in Masdar City, Abu Dhabi. These efforts have engaged over 30 companies from both nations to explore innovative projects and investment opportunities.

Additionally, several high-profile partnerships were highlighted during the meeting, including the launch of the CMA Terminals container terminal at Khalifa Port in December 2024. This AED 3.1 billion joint venture between Abu Dhabi Ports Group and France’s CMA CGM is a key project aimed at enhancing supply chain efficiency and reducing transportation costs. The Council also highlighted the “TAQANA Energy Solutions” facility in Abu Dhabi, a partnership focused on advancing energy solutions to support industrial growth in the UAE.

Several new agreements were also signed, including a partnership framework between Masdar, TotalEnergies, and 2PointZero to promote clean energy in Africa and Asia, a memorandum of cooperation between ADNOC and Veolia to optimize water use, and a collaboration between Abu Dhabi Ports and French company Pascal to develop AI-driven solutions.

As the meeting concluded, participants affirmed their commitment to accelerating the implementation of key initiatives and expanding cooperation across priority sectors. The Council also adopted a roadmap for the coming year, focusing on enhancing bilateral trade and driving collaboration in sectors critical to both nations’ economic futures. The next regional business development meeting is scheduled for May 2025, on the sidelines of the “Make it in the Emirates” forum in Abu Dhabi.

About The UAE-France High Level Business Council

The UAE-France High Level Business Council was launched in Paris on the Occasion of H.H. Sheikh Mohamed bin Zayed AL NAHYAN, President of the United Arab Emirates, state visit to France in July 2022, where President Sheikh Mohamed bin Zayed AL NAHYAN and French President Emmanuel MACRON witnessed and praised the launch of the UAE-France Business Council with a view to increasing further bilateral business opportunities for the benefit of both nations. The Council held its first meeting on 30th January 2023 in Abu Dhabi, which resulted in discussions on methane emissions reduction between TotalEnergies and ADNOC and the launch of a bilateral partnership to accelerate clean energy, focusing on the decarbonization of Hard-to-Abate (HTA) Industries.

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SOURCE: TotalEnergies