80 percent growth in bank deposits in 10 years: Federal Competitiveness and Statistics Centre

ABU DHABI, Deposits at UAE banks grew 80% to AED1,884 bn in 2020 from AED1,049 bn in 2010, according to a report by the Federal Competitiveness and Statistics Centre.

The report, which documents the developments witnessed by the banking sector over the past decades, highlights the steady growth in bank deposits to AED1.471 trillion in 2015 from AED1.049 trillion in 2010.

The document indicated that the number of commercial banks operating in the UAE totalled 58 in 2020 against 51 in 2010. It highlighted the major mergers between a number of national banks that produced the likes of Emirates NBD in 2007 and FAB in 2017 as well as the merger involving the Union, and Hilal banks with the Abu Dhabi Commercial Bank, and the Dubai Islamic Bank’s acquisition of Noor Bank in 2020.

The report highlighted the fast pace of economic, urban and social development in the UAE over the past five decades and the resultant impact on the insurance sector, which represents one of the key drivers of the Gross Domestic Product.

The licensed companies working in the insurance sector increased from 238 in 2010 to 314 in 2015 to 406 in 2020, according to the report.

Source: Emirates News Agency

Tunisia beat Mauritania 4-0 to revive Afcon Round of 16 hopes

YAWUNDE, Tunisia revived their hopes of reaching the Round of 16 after beating Mauritania 4-0 in an Africa Cup of Nations fixture at Limbe Stadium on Sunday.

It was Hamza Mathlouthi who put them ahead in the sixth minute before captain Wahbi Khazri grabbed a brace in the eighth and 64th minute and Seifeddine Jaziri sealed the emphatic Group F victory with a wonderful effort in the 66th minute.

Having lost their opening fixture against Mali by a solitary goal and in a controversial manner, Tunisia started the game against the Lions of Chinguetti with urgency and it was not a surprise when they took the deserved lead with only six minutes played.

The win left Tunisia third on three points from two matches while the Gambia, who will later take on Mali, are top of the group with four points.

In the meantime, a stoppage-time clanger from goalkeeper Badra Ali Sangare meant Ivory Coast could only draw 2-2 with Sierra Leone at the Africa Cup of Nations.

Source: Emirates News Agency

Mohammed bin Rashid meets with President Moon Jae-in of the Republic of Korea

DUBAI, His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai, today met with the President of the Republic of Korea Moon Jae-in and his accompanying delegation at Expo 2020 Dubai.

During the meeting, His Highness Sheikh Mohammed bin Rashid praised the strategic partnership between the UAE and the Republic of Korea, and the keenness of both countries to further boost bilateral relations in various areas.

“The strategic partnership between the UAE and the Republic of Korea provides many opportunities to enhance cooperation in various fields, including the economy, trade, food security, health, culture, space, energy and tourism,” His Highness said, noting that the UAE is the Republic of Korea’s top trade partner in the region.

“We are proud of the strategic cooperation between the UAE and the Republic of Korea. Prominent strategic projects such as the Barakah Nuclear Energy Plant are proof of the depth of relations between the two friendly nations. We also appreciate the active participation of the Republic of Korea pavilion at Expo 2020 Dubai,” H.H. Sheikh Mohammed added.

The relations between the UAE and the Republic of Korea have witnessed significant progress in a number of vital sectors, with the volume of non-oil trade between the two countries reaching $4.8 billion in 2020, His Highness said. “During the next phase, we plan to draw up plans to further expand cooperation in areas of common interest, as well as explore development opportunities in priority sectors,” Sheikh Mohammed said.

Attending the meeting were H.H. Sheikh Maktoum bin Mohammed bin Rashid Al Maktoum, Deputy Ruler of Dubai, Deputy Prime Minister and Minister of Finance; H.H. Lt. General Sheikh Saif bin Zayed Al Nahyan, Deputy Prime Minister and Minister of the Interior; H.H. Sheikh Mansour bin Zayed Al Nahyan, Deputy Prime Minister and Minister of Presidential Affairs; H.H. Sheikh Abdullah bin Zayed Al Nahyan, Minister of Foreign Affairs and International Cooperation; H.H. Sheikh Ahmed bin Saeed Al Maktoum, President of Dubai Civil Aviation Authority and Chairman of Emirates Airline & Group; H.H. Sheikh Mansoor bin Mohammed bin Rashid Al Maktoum; and Sheikh Nahyan bin Mubarak Al Nahyan, Minister of Tolerance and Coexistence.

President Moon Jae-in thanked His Highness Sheikh Mohammed bin Rashid Al Maktoum and His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, for the hospitality, highlighting the strong ties between the two friendly countries.

Sheikh Mohammed bin Rashid and President Moon Jae-in witnessed the signing of agreements and several Memorandums of Understanding (MoU’s). An MoU was signed between the UAE Ministry of Defence and the Republic of Korea’s Defence Acquisition Programme Administration (DAPA) on medium and long-term cooperation in the fields of defence industries and technology. The MoU was signed by Major General Dr. Mubarak Ghafan Al Jabri, Assistant Under-Secretary for Support and Defence Industries at the UAE Ministry of Defence and Kang Eun-Ho, Korea’s Minister of Defence Acquisition Programme Administration (DAPA).

UAE’s Tawazun Economic Council (Tawazun) signed an MoU with Korea’s LIG Nex1 Co. The MoU was signed by Muammar Abdulla Abushehab, CEO of Tawazun Technology and Innovation (TTI) and Hyeonsoo Lee, Executive Vice President of Global Business Group.

Two MoU’s between UAE’s Tawazun and Korea’s Hanwha Systems Co. were signed by Muammar Abdulla Abushehab and Son Jae-il, CEO of Hanwha Systems.

Additionally, His Highness Sheikh Mohammed bin Rashid and President Moon Jae-in witnessed the signing of three agreements between Abu Dhabi National Oil Company (ADNOC) and a number of Korean entities. They include a Framework Agreement between ADNOC and the Export – Import Bank of Korea signed by Dr. Sultan Al Jaber, Minister of Industry and Advanced Technology and Managing Director and Group CEO of ADNOC, and Moon –Kyn Bang, Chairman and President of The Export – Import Bank of Korea.

A Joint Study Agreement was signed between ADNOC, KNOC and SK Gas hydrogen/ammonia and another agreement between ADNOC and KNOC on ammonia cargo.

Source: Emirates News Agency

COVAX delivers its 1 billionth COVID-19 vaccine dose

GENEVA, A global initiative to ensure the equitable distribution of COVID-19 vaccines across the world has completed the delivery of its one billionth dose.

On 15th January 2021, a shipment of 1.1 million COVID-19 vaccines to Rwanda included the billionth dose supplied via COVAX, according to a press release issued by the World Health Organisation (WHO) on Sunday.

COVAX is co-led by Coalition for Epidemic Preparedness Innovations (CEPI), Gavi (The Vaccine Alliance) and WHO, alongside key delivery partner the United Nations Children’s Fund (UNICEF).

“Together with our partners, COVAX is leading the largest vaccine procurement and supply operation in history, with deliveries to 144 countries to date. But the work that has gone into this milestone is only a reminder of the work that remains,” said WHO.

The WHO press release revealed that as of 13th January 2022, out of 194 Member States, 36 WHO Member States have vaccinated less than 10 percent of their population, and 88 less than 40 percent.

COVAX’s ambition was compromised by hoarding/stockpiling in rich countries, catastrophic outbreaks leading to borders and supply being locked. And a lack of sharing of licences, technology and know-how by pharmaceutical companies meant manufacturing capacity went unused.

COVAX is working with governments, manufacturers and partners to ensure that when countries receive vaccines they can get them to people quickly.

“With updated vaccines in the pipeline, now is the moment for all citizens to demand that governments and pharmaceutical companies share health tools globally and bring an end to the death and destruction cycles of this pandemic, limit new variants and drive a global economic recovery,” WHO affirmed.

Source: Emirates News Agency

Rapid growth of hydrogen economy hints at new power dynamics: IRENA

ABU DHABI, Rapid growth of the global hydrogen economy can bring significant geoeconomic and geopolitical shifts giving rise to a wave of new interdependencies, according to new analysis by the International Renewable Energy Agency (IRENA).

The ‘Geopolitics of the Energy Transformation: The Hydrogen Factor’ report sees hydrogen changing the geography of energy trade and regionalising energy relations, hinting at the emergence of new centres of geopolitical influence built on the production and use of hydrogen, as traditional oil and gas trade declines.

Driven by the climate urgency and countries’ commitments to net zero, IRENA estimates hydrogen to cover up to 12 percent of global energy use by 2050. Growing trade and targeted investments in a market dominated by fossil fuels and currently valued at US$174 billion is likely to boost economic competitiveness and influence the foreign policy landscape with bilateral deals diverging significantly from the hydrocarbon relationships of the 20th century.

“Hydrogen could prove to be a missing link to a climate-safe energy future”, Francesco La Camera, Director-General of IRENA said. “Hydrogen is clearly riding on the renewable energy revolution with green hydrogen emerging as a game changer for achieving climate neutrality without compromising industrial growth and social development. But hydrogen is not a new oil. And the transition is not a fuel replacement but a shift to a new system with political, technical, environmental, and economic disruptions.”

“It is green hydrogen that will bring new and diverse participants to the market, diversify routes and supplies and shift power from the few to the many. With international co-operation, the hydrogen market could be more democratic and inclusive, offering opportunities for developed and developing countries alike.”

IRENA estimates that over 30 percent of hydrogen could be traded across borders by 2050, a higher share than natural gas today. Countries that have not traditionally traded energy are establishing bilateral energy relations around hydrogen. As more players and new classes of net importers and exporters emerge on the world stage, hydrogen trade is unlikely to become weaponised and cartelised, in contrast to the geopolitical influence of oil and gas.

Cross-border hydrogen trade is set to grow considerably with over 30 countries and regions planning for active commerce already today. Some countries that expect to be importers are already deploying dedicated hydrogen diplomacy such as Japan and Germany. Fossil fuel exporters increasingly consider clean hydrogen an attractive way to diversify their economies for example Australia, Oman, Saudi Arabia and the United Arab Emirates. However, broader economic transition strategies are required as hydrogen will not compensate for losses in oil and gas revenues.

The technical potential for hydrogen production significantly exceeds estimated global demand. Countries most able to generate cheap renewable electricity will be best placed to produce competitive green hydrogen. While countries such as Chile, Morocco, and Namibia are net energy importers today, they are set to emerge as green hydrogen exporters. Realising the potential of regions like Africa, the Americas, the Middle East, and Oceania could limit the risk of export concentration, but many countries will need technology transfers, infrastructure and investment at scale.

The geopolitics of clean hydrogen will likely play out in different stages. The report sees the 2020s as a big race for technology leadership. But demand is expected to only take off in the mid-2030s. By that time, green hydrogen will cost-compete with fossil-fuel hydrogen globally, poised to happen even earlier in countries like China, Brazil and India. Green hydrogen was already affordable in Europe during the 2021 spike in natural gas prices. Refurbishing natural gas pipelines is likely to further boost demand and facilitate hydrogen trade.

Countries with ample renewable potential could become sites of green industrialisation, using their potential to attract energy-intensive industries. Furthermore, having a stake in the hydrogen value chain can boost economic competitiveness. The manufacturing of equipment like electrolysers and fuel cells in particular could drive business. China, Japan and Europe have already developed a head start in the production, but innovation will shape the current manufacturing landscape further.

Green hydrogen may strengthen energy independence, security, and resilience by cutting import dependency and price volatility and boosting flexibility of the energy system. However, the raw materials needed for hydrogen and renewable technologies could draw attention to material security. Shortages and price fluctuations could reverberate through hydrogen supply chains and negatively affect cost and revenues.

Shaping the rules, standards and governance of hydrogen could lead to geopolitical competition or open a new era of enhanced international cooperation. Assisting particularly developing countries to deploy green hydrogen technologies and advance hydrogen industries could prevent the widening of a global decarbonisation divide and promote equity and inclusion, creating local value chains, green industries, and jobs in renewable-rich countries.

Source: Emirates News Agency

Dubai Mounted Police- safety, security, beauty and presence

DUBAI, Despite the rapid growth and continuous development, horses of all breeds have never lost their value and remained a symbol of beauty, prestige and strength, a cause for pride among their owners, and a source of inspiration for poets and writers.

Nowadays, horses have a fair share in enhancing the safety and security of community members and play a pivotal role in spreading peace among them. Horses have become an essential part of many law enforcement agencies worldwide, including Dubai Police who has dedicated a police station and introduced new policing mechanisms to utilise equines in policing work.

Since the seventies, Dubai Police has been one of the leading police organisations to use horses in their work. The Force has also received international recognition from the British Horse Society (BHS) for applying the latest work systems in training trainers and horses and applying the latest human resources and safety systems in its various mounted police departments and divisions.

As early as 1976 According to Expert Major General Muhammad Issa Al Adhb, Director of Dubai Mounted Police Station, Dubai Mounted Police began in 1976 with an order by His Highness Sheikh Mohammed bin Rashid Al Maktoum, Vice President, Prime Minister and Ruler of Dubai. The Section was affiliated with the General Department of Punitive and Correctional Institutions and had nine horses and four handlers.

“Since then, Dubai Mounted Police has witnessed great development and attracted interest from the Dubai officials, leaders and citizens. The Section was restructured into a sub-department affiliated with the General Department of Criminal Investigations before it became a police station in 2019,” Al Adhb said.

Crime Prevention Maj. Gen. Al Adhb explained that the Station serves Dubai Police’s strategic objective of reducing crime and ensuring safety and security as horses are involved in daily patrols across industrial, commercial and tourist areas, which contributes to preventing crime, arresting suspects and locating suspicious and abandoned vehicles.

He noted that in 2021, they conducted 2279 patrols, including 49 security patrols, 81 community patrols, and 457 awareness patrols, in collaboration with Dubai Police volunteers to raise awareness on the announced precautionary measures against covid-19 patrols.

Maj. Gen. Al Adhb added that their main tasks include training and qualifying jockeys, cadet officers and newcomers, and offering equine-assisted therapy.

Equine-Assisted Therapy The director of Dubai Mounted Police Station said they have trained and provided equine-assisted therapy to 350 children of determination as part of an initiative they launched in 2007 in collaboration with the Community Development Authority (CDA).

“Our horses are assigned different roles. Some are trained for riot control, some for parades and events, some for patrols and others help encourage children with disabilities to open up to the world. There are also horses that represent the Station in endurance races,” Maj. Gen Al Adhb added.

Social Interaction The Dubai Mounted Police also participate in various festivals and events, including securing venues, stadiums, and performing shows and parades.

“We always get approached by people, especially children” “Everyone loves horses. They want to know about the majestic creatures, so they come up and ask questions. Cops on horses are less intimidating, and people feel safe around them,” Maj. Gen. Al Adhb said.

International Recognition Maj. Gen. Al Adhb indicated that the Dubai Mounted Police Station had obtained international recognition from the renowned British Horse Society (BHS) after passing the Society’s assessment on work systems for training workers and horses, human resources mechanisms, occupational safety, and work procedures. Thus, Dubai Police has become the first law enforcement agency to obtain this prestigious global recognition.

Awards Maj. Gen. Al Adhb further explained that the Dubai Mounted Police Station had won several awards, most notably the Fatima Bint Mubarak Award for Excellence and Community Intelligence, the Princess Haya Award for Special Education, the Ideas Award, and the Sports Creativity Award.

He added that in 2018, the Dubai Mounted Police Station broke the Guinness World Record for the largest parade of horses with UAE flags.

Exceptional Equine Rehabilitation Programme The director of Dubai Mounted Police Station confirmed that their equine rehabilitation programme had made some remarkable achievements over the past 15 years. The programme includes rehabilitating and training racing horses and enabling them to participate in events, shows and festivals.

Maj. Gen. Al Adhb said 173 people from the Dubai Mounted Police Station, Dubai Police Academy and Hemaya International Centre participated in the Royal British Windsor Show 2019, in cooperation with the Dubai Equestrian Club and Al Meydan.

“Our participation succeeded in catching the interest of Her Majesty Queen Elizabeth II, who was impressed by our success in rehabilitating and training racing horses, so they could participate in various shows and withstand the hustle and bustle of live shows and loud music,” Al Adhb continued.

Innovations of Dubai Mounted Police The director of Dubai Mounted Police Station revealed some of the Station’s innovations, including an engineless bicycle for training horses equipped with front and rear fenders for docking horses kicks during training. In addition, the Station’s has developed a water spray device and a rubber-balls throwing machine used to create scenarios that simulate riots.

Maj. Gen. Al Adhb said they have also developed a horse-training armoured vehicle equipped with front and rear fenders that fuse with the horses to train them on push and anti-riot response. The armoured vehicle is also fitted with an artificial smoke device to train horses on fire outbreak scenarios during riots, loudspeakers and customised front and rear cameras.

117 Horses Police forces worldwide have made the most of people’s love for horses to boost intimacy and friendliness between officers and members of the public. The presence of mounted police in mass gatherings spreads joy and happiness and enhances people’s sense of safety.

Today, the Dubai Mounted Police Station has 117 horses who roam the city’s streets to ensure safety, tranquillity and spread joy among its people.

Horses Wellbeing Major Dhahi Salem Al Jallaf, Director of Administrative Affairs at Dubai Mounted Police Station, indicated that one of their pivotal work aspects is veterinary and horse care. “Our veterinarians and nurses work tirelessly to ensure the horses’ safety and wellbeing at all times, treat their injuries and follow up on their health and immunisation schedule,” he noted.

Source: Emirates News Agency

‘SteelFab 2022’ concludes with resounding success, attracting over 6000 visitors

SHARJAH, The 17th edition of the “SteelFab 2022” exhibition, MENA’s largest event of its kind, was concluded on Thursday with resounding success, enhancing the exhibition’s position as an international destination for the most important international companies and major local and international manufacturers.

Organised by the Expo Centre Sharjah with the support of the Sharjah Chamber of Commerce and Industry, the “SteelFab 2022” has attracted over 6,000 visitors, mainly from traders and professionals.

Over 150 local and international exhibitors from 30 countries and 400 brands of the world’s leading brands in the field of metalwork and related industries participated in the event.

Major iron & steel companies from the UK, Italy, Turkey and India, and UAE took part in the event, showcasing the most prominent technologies of the Fourth Industrial Revolution in the iron and steel sector, the latest equipment and machinery, and modern technologies in the fields of metal forming and low-cost laser systems for metal cutting.

Saif Mohammed Al Midfa, CEO of Expo Centre Sharjah expressed his pleasure with the resounding success of this year’s edition of SteelFab, as reflected in the high turnout of visitors and the intense presence of major international steel companies, as well as the clear desire of the companies to participate in the coming editions.

“SteelFab 2022 exhibition has further cemented its position as a key destination for metal works in the region and has reinforced its role in supporting the iron and steel industry in Sharjah,” added Al Midfa. “Not only that, but the event has also provided an opportunity for international companies to explore huge and promising investment opportunities, in addition to enhancing the efficiency and productivity of national and local companies.” On the sidelines of the exhibition, A 2-day Machinery Technology Equipment Conference took place to discuss issues of concern to workers in the iron and steel industry, foremost of which are key learnings from the impact of Covid-19 on demand and supply, the changing face of the structural steel fabrication market, and digitisation in steel fabrication.

Meanwhile, the 6th Fasteners World Middle East took place, which is a full-fledged vertical show for the entire fasteners and fixing industry.

“SteelFab 2022” was supported by international associations and leading companies such as UCIMU Sistemi Per Produrre (Association of Italian Manufacturers of Machine Tools, Robots, Automation Systems and Ancillary Products), UAE Contractors Association, Ventures Middle East (VME), and Construction Week Online (ITP).

Source: Emirates News Agency

Global Councils for SDGs to Strengthen Efforts and Accelerate Implementation

DUBAI, The UAE government named the second cohort of the Global Councils for Sustainable Development Goals (SDGs), during Global Goals Week.

Organised by the UAE government and held at Expo 2020 Dubai, the new Councils were officially launched at a high-level meeting at Expo 2020 Dubai Sustainability pavilion today.

Reem bint Ibrahim Al Hashemy, Minister of State for International Cooperation and Chairperson of the National Committee for Sustainable Development Goals; Amina J. Mohammed, Deputy Secretary-General of the United Nations and Chairperson of the United Nations Sustainable Development Group attended the meeting with a number of Government officials and members of the 18 global councils.

From the UAE government; Suhail bin Mohammed Al Mazrouei, Minister of Energy and Infrastructure; Mariam bint Mohammed Almheiri, Minister of Climate Change and the Environment; Dr. Thani bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade; as well as Omar bin Sultan Al Olama, Minister of State for Artificial Intelligence, Digital Economy, and Teleworking Applications, and Managing Director of the World Government Summit Organisation attended the meeting.

“The launch of the second round of the Global Councils for SGDs at Expo 2020 Dubai, is a reflection of UAE’s commitment to strengthen its role in enhancing the welfare of societies and the sustainability of the planet,” said Al Hashimy. “The UAE government is adamant on supporting the global sustainability agenda accelerate the development goals during the current decade, which the United Nations declared to be a Decade of Action,” she added.

Amina J. Mohammed said during the meeting, “Global partnerships are the pathway to achieve global sustainability.” She added; “The Global Councils for SDGs is a prime example of bringing together decisionmakers and thought-leaders across multiple disciplines and geographies to tackle, head on, some of the world’s most pressing issues, bringing together, world governments, private sector, academia and societies, to deliver decisive action aimed to build a sustainable future that leaves no one behind.”

Omar Sultan Al Olama, stressed the importance of the Global Councils for Sustainable Development Goals, since its transformation from an idea to a comprehensive international initiative through the World Government summit, has added qualitative addition to international efforts aimed at accelerating the achievement of goals.

The Global Councils, in their new form, will see the addition of eight new councils in addition to the existing 10 councils.

Additionally, the councils will be adopting a novel and enhanced work methodology that moves from focusing on one single goal per council, onto a comprehensive and integrated model that supports the acceleration of the implementation of multiplate and inter-related goals through innovative partnerships and joint projects.

The global participation of decision-makers, globally renound experts and academics in the Global Councils for SDGs reflects the pioneering position of the UAE and its role in supporting international efforts in achieving sustainable development.

The Global Councils for SDGs represent an international, multidisciplinary network of decision makers in governments, international organisations, academic institutions, community organisations and private sector companies.

The council’s heads and members will work together to design, and implement innovative projects and discuss innovative ideas aimed at implementing the 17 Sustainable Development Goals at the national and global levels.

The Global Councils for SDGs initiative was first launched in 2018 as part of the World Government Summit, which constitutes a leading global platform that brings together a group of government leaders, ministers, senior officials, decision-makers, ideas pioneers and specialists in financial, economic and social affairs from various countries of the world, under its umbrella.

Source: Emirates News Agency

Eight people die of coronavirus in Palestine in last 24 hours as 332 new cases were confirmed

RAMALLAH, Eight people have died of coronavirus in Palestine in the last 24 hours as 332 new cases were confirmed, today said the Palestinian Ministry of Health.

It said in its daily report on the pandemic in Palestine that six of the deaths were recorded in the West Bank where 252 new cases were confirmed and 190 patients have recovered.

Two people died in the Gaza Strip where 80 new cases were confirmed and 120 patients recovered.

The Ministry said 93 COVID-19 patients are getting treatment in hospitals and coronavirus centres in Palestine while 53 are in critical condition and are in intensive care, including 19 who are attached to ventilators.

Source: Emirates News Agency

Minister of State for Financial Affairs meets with Executive Director of the Arab Group at the IMF

DUBAI, Mohamed Hadi Al Hussaini, Minister of State for Financial Affairs, met today with Dr. Mahmoud Mohieldin, Executive Director of the Arab Group at the International Monetary Fund (IMF), on the sidelines of the Expo 2020 Dubai, and in the presence of Younis Haji Al Khoori, Undersecretary of Ministry of Finance.

The meeting sought to discuss key issues at the MENA region and the latest developments related to climate change and the COVID-19 pandemic.

During the meeting, Al Hussaini welcomed Dr. Mahmoud Mohieldin and stressed on the importance of continuous coordination between both parties on various regional and international issues, foremost of which is climate change and the COVID-19 pandemic.

The UAE Minister of State for Financial Affairs said: “The UAE is keen to strengthen the strategic relationship and cooperation with various international regional institutions and bodies, especially the World Bank, to drive growth and accelerate global economic recovery, as well as support various efforts aimed at achieving sustainable economic and social development.”

The meeting previewed the priorities of the UAE’s policy post the pandemic and means of providing the necessary support to the country by the IMF.

Both parties also discussed climate change and climate adaptation policies and their macroeconomic impact on the UAE and other regional economies.

That, in addition to deliberating ways to benefit from the 27th COP27 United Nations Climate Change Conference, which will be held in Egypt this year and (COP28), which will be held in the UAE in 2023.

Both parties emphasised the importance of calling for climate policies tailored to the needs of Emerging Markets and Developing Economies (EMDEs) and fossil fuel exporters.

The meeting came as part of Dr. Mahmoud Mohieldin’s visit to the UAE to attend the official launch of the Global Council on Sustainable Development Goals at Expo 2020 Dubai.

Source: Emirates News Agency