The UAE Ministry of Industry and Advanced Technology (MoIAT) and the Federal Ministry of Finance of the Republic of Austria have agreed to comprehensive cooperation in the field of hydrogen technology.
The agreement was signed by Dr. Sultan bin Ahmed Al Jaber, the UAE Minister of Industry and Advanced Technology and Ms. Elisabeth Köstinger, Federal Minister of Agriculture, Regions, and Tourism of Austria, on behalf of Dr. Magnus Brunner LL.M., Federal Minister of Finance of Austria.
The partnership reiterated their commitment to developing bilateral relations and initiating a new era of cooperation in their respective countries, especially priority sectors such as the energy sector.
“The MoU aims to establish a comprehensive collaboration in hydrogen technology, which will build on the strengths of each party and contribute to the UAE’s position as a leading global energy producer. The agreement is also in line with the UAE’s commitment to net-zero emissions by 2050 through the deployment and use of clean energy solutions.”
“This agreement is in line with the wise leadership’s vision and directives to boost efforts in positioning the UAE among the top industrial countries in the world and contribute to building a sustainable and diversified economy that will make the UAE an international model for sustainable economic development. To achieve this, we must focus on enhancing investment incentives, accessibility of resources, and a strong infrastructure. It is also imperative that we develop strategic initiatives that both guide our path forward and demonstrate the foresight to adapt to global shifts,” Dr. Al Jaber further added.
The UAE Minister of Industry and Advanced Technology further elaborated that “Our bilateral relations encompass several strategic sectors, including information technology, communication technology, advanced technology, digitalization, the fourth industrial revolution, and sustainability, among others. Both countries prioritize international cooperation and are committed to an open and transparent dialogue.”
The agreement follows the Comprehensive Strategic Partnership signed during the visit of Sheikh Mohammed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, to Austria last year.
Meanwhile, Ms. Elisabeth Köstinger remarked that “It is our shared objective to meet the growing global energy demand while reducing carbon emissions. The United Arab Emirates offer ideal conditions for green hydrogen production, while Austria has decades-long experience in gas transport and storage as well as the required infrastructure. We have decided to combine our respective comparative advantages for the greater good. Today’s signing of a cooperation agreement ensures the Republic of Austria and the UAE remain at the forefront of energy innovation.”
The goal of this comprehensive collaboration in the hydrogen technology industry is to build long-term, reliable, and mutually beneficial partnerships for shared and common goals. This cooperation will include a consistent framework for cooperation and exchange throughout the entire hydrogen ecosystem, including production, storage, conversion, transportation, trade, reprocessing, use of clean hydrogen, and value chain construction and services as well as joint research and development activities.
Moreover, a joint roadmap will be developed for cooperation through the respective operating companies to accelerate the use of hydrogen in key areas such as utilities, mobility, and industry.