UAE, UK agree to establish ambitious 'Partnership for the Future'

The UAE and the UK have agreed to establish an ambitious 'Partnership for the Future' that will strengthen the historic relations that the two countries share.

The new partnership will build on this history, and ensure that the UAE and UK are able to work closely together to promote prosperity and security, tackle climate change, and expand the exchange of knowledge, skills and ideas.

It comes as His Highness Sheikh Mohamed bin Zayed Al Nahyan, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the UAE Armed Forces, met with United Kingdom Prime Minister Boris Johnson on Thursday.

The meeting was attended by ministerial representatives, ambassadors and officials from both countries.

United Arab Emirates - United Kingdom: "Partnership for the Future"

The Partnership will consist of two central pillars: the creation of sustainable prosperity and addressing global issues.

The leaders agreed to create new trade, investment, and innovation dynamics, and to strengthen collaboration in areas including life sciences, energy innovation, regional issues, illicit finance, education, security, development, culture, climate, and health and food security.

The UAE Minister of Foreign Affairs and International Cooperation and the Secretary of State for Foreign, Commonwealth and Development Affairs will co-chair an annual Strategic Dialogue to review the global issues pillar and to working closely together during the UAE’s term at the UN Security Council for the period of 2022-23.

The leaders discussed the opportunities for economic cooperation presented by new and developing sectors including technology, education, healthcare and life sciences, and clean and renewable energy.

They welcomed the recent steps to increase investment flows between both countries. Abu Dhabi’s Mubadala Investment Company and the United Kingdom’s Office for Investment signed the Sovereign Investment Partnership (SIP). This long-term strategic agreement will serve to drive the investment relationship between the two countries. Over a five-year period, the Sovereign Investment Partnership (SIP) will invest across four key innovation-led sectors -- technology, infrastructure, healthcare, and life sciences, and clean and renewable energy -- that will support job creation in both countries, strengthen national research and development capabilities and originate new areas of investment collaboration.

In the energy sector, the leaders agreed to step up ties in the energy transition and decarbonisation, with a particular focus on renewables and new forms of energy through three new agreements: [1] a trilateral collaboration between Abu Dhabi National Oil Company (ADNOC), Masdar and BP; [2] an agreement between ADNOC and BP on co-development of Carbon Capture, Usage and Storage; and [3] a forward-looking partnership between Masdar and BP to develop, build and operate energy and mobility services in urban spaces.

The leaders announced the signing of the Memorandum of Cooperation (MoC) on Industrial and Advanced Technologies Co-operation between the Department for Business, Energy and Industrial Strategy and the Ministry of Industry and Advanced Technology. The MoC highlights nine priority areas for collaboration between the two countries, including Life Sciences, Hydrogen, Space, emerging renewable energy technologies, and smart and green sustainable manufacturing that will be implemented through joint engagements between government, businesses, and academic entities.

Both countries will form a space sector joint committee to drive bilateral discussions, to deliver economic prosperity for both nations.

Both leaders agreed on increased cooperation to ensure the safety and security of maritime commerce, trade and energy routes.

They acknowledged the difficult circumstances caused by the pandemic globally, and they offered their deepest condolences for the loss of lives and expressed deepest sympathy with the families of the victims. Moreover, they welcomed the increase in the level of vaccinations in the UAE and UK, and underlined their commitment to share data and exchange experience, including on genome sequencing.

Both countries have launched a Partnership to Tackle Illicit Financial Flows. They also agreed that international partners should work together to tackle dirty money.