The Ministry of Investment of the UAE and the Ministry of Energy of Kazakhstan, represented by Samruk-Kazyna, a sovereign wealth fund, have signed a Memorandum of Understanding (MoU) on low-carbon energy development.
Aligned with each country’s national policies in this field, the agreement is testament to the two nations’ efforts in advancing sustainable energy initiatives to drive climate action and further their positive impact on the wider economy.
Under the MoU, the parties aim to explore and leverage investment opportunities in the low-carbon energy field, which includes support for the development of new sources. It also sets out that the two countries will exchange information as well as conduct joint seminars and conferences to advance knowledge exchange in the field.
Mohamed Hassan Alsuwaidi, Minister of Investment of the UAE, said: “This agreement is set to facilitate the proliferation of low-carbon energy sources, which are already playing an important role in both nations. By leveraging our collective expertise, we will propel our nations towards a cleaner, more energy-efficient future in support of sustainability ambitions and objectives, which will benefit generations to come.”
The MoU builds on an existing history of deep bilateral relations between the UAE and Kazakhstan, which span over three decades.--TradeArabia News Service