UAE partners with South Korea to build up hydrogen economy and advanced technologies
06 March, 2021
The UAE and South Korea are joining forces to further develop the hydrogen economy and collaborate on industrial and technological policies.
The UAE’s ministry of industry and advanced technology, and South Korea’s ministry of trade, industry and energy signed two agreements on Thursday.
The agreements will support the UAE’s industrial sector, help the country to diversify, encourage foreign direct investment and fortify the country’s research and production ecosystem, Dr Sultan Al Jaber, UAE’s minister of industry and advanced technology, said.
“The Republic of Korea possesses a wealth of experience in the adoption of Fourth Industrial Revolution solutions, so that it represents an ideal partner on our path towards a tech-powered, knowledge-based economy,” he added.
The UAE may be the largest trade partner of Korea in the Middle East and North Africa region.
By the end of 2019, the quantity of bilateral non-oil trade amounted to Dh18.3 billion. Before few years, the two economies possess stepped up their business in the fields of technology, defence, culture, education, renewable, nuclear strength and other sectors.
Under the initially agreement, the countries decided to support regulations and national plans governing hydrogen trade - a lucrative area that strength producers are tapping into amid the rush for clean energy.
The agreement will also pave just how for greater collaboration between your Abu Dhabi Hydrogen Alliance, which comprises Abu Dhabi National Oil Company, Mubadala Investment Company and commercial holding firm ADQ, and H2KOREA that represents the general public and private hydrogen fuel cell industry in the Asian country.
The ministries plan to manage joint feasibility analyses and pilot jobs with a give attention to hydrogen, carbon recycling and related low-emission technologies, industries and benefit chains.
As per the next contract, the UAE and South Korea can exchange regulatory best practices in industrial development. Some of the key fields of fascination incorporate MedTech, space technology, AgriTech and the Fourth Industrial Revolution.
Despite the coronavirus-related constraints imposed this past year, Korea and the UAE engaged in “active co-operation, including organization interactions, along with pandemic control” measures, Sung Yun-mo, Korean minister of trade, industry and strength, said.
“We are very happy to establish co-procedure in fostering near future industries and promising start-ups through the signing of both innovative agreements,” said Mr Yun-mo, adding that Korea is keen to expand the scope of the prevailing partnership with a give attention to the advancement of low-carbon technology, IT and the zero-contact economy.
The ministers also stressed the value of joint efforts to accelerate the post-Covid monetary recovery and the transition to a low-carbon future.
Source: www.thenationalnews.com
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