Sweden-UAE: Partners in development | UAE – Gulf News

The relationship between the UAE and Sweden dates back even before the founding of the UAE. The first Swedish companies set up their own businesses in the 1960s. Since the establishment of diplomatic relations in 1972, our bilateral relations with the UAE have been strong and have been continuously strengthened and deepened in various fields. Sweden has an embassy in Abu Dhabi, the head of which acted as chargé d’affaires ad interim at the embassy in Kuwait from 1983-92 before becoming a full embassy since 2002. Swedish Trade and Investment Council Business Sweden in Dubai since 2007. The UAE has had an embassy in Stockholm since 2005.

There is a large and growing Swedish community here, today we have about 5,000 Swedish citizens working and living in the UAE, which is a high number for Sweden!

Sweden has a long-standing trade relationship with the UAE and leading Swedish companies such as IKEA, Ericsson, ABB and Volvo have been around for many years. The trade relationship has grown stronger in recent years. Today, the UAE is one of Sweden’s most important trading partners in the Middle East, Africa and South Asia – 30% of Swedish exports to the region go to the UAE. Swedish exports rose 27 percent last year to more than AED 3 billion.

Overall, I’d say that Sweden’s business relationship with the UAE is strong and growing. The UAE’s favorable business climate and success as an investment destination have had an impact on Swedish business decision makers. Swedish businesses have a strong presence in the UAE, with over 200 Swedish-related companies already here and many more considering the UAE when establishing operations in the region.

The UAE is therefore also a regional hub for Swedish companies serving neighboring countries. The UAE’s presence in Sweden is not yet at the same level, but it has the potential to grow as we see increased investment from the Swedish Gulf region.

Most recently, Abu Dhabi-based M42 acquired Swedish dialysis provider Diaverum, making M42 the largest healthcare company in the Middle East. This investment may prove that Sweden is a leading innovation country and a frontrunner in R&D, green transition, sustainability and life sciences. There are many interesting developments in Swedish business and industry with regard to climate impact, such as sustainable battery production, fossil-free steel, green energy, advanced digital technologies, and new materials being reinvented by entrepreneurial start-ups, international heavyweights, and research and academia.

Among the Swedish companies here, you will find well-known multinationals such as Volvo, Scania, Saab, Ericsson, Electrolux, ABB, H&M, IKEA, AstraZeneca, as well as interesting start-ups, many of which are innovating and Sustainability in the field of innovation. Gulf Rock and GAC are examples of companies that were here before 1971. Swedish companies directly and indirectly provide and support more than 15,000 jobs in the local job market.

Since its inception, Swedish companies have invested more than AED 1 billion in the UAE.

We see great opportunities to further strengthen cooperation and bilateral trade between Sweden and the UAE. In the UAE, we see opportunities for Swedish companies in areas such as healthcare, transport, IT, telecommunications and energy. Swedish companies are known for leading the way in providing innovative and sustainable solutions and services. We are also seeing increasing opportunities for UAE companies to invest and expand in Sweden. Sweden has a long industrial and manufacturing history, which has produced some of our best-known companies, and a strong knowledge base in advanced manufacturing practices.

In addition, Sweden is the Silicon Valley of Europe, second only to the US Silicon Valley in the country with the most unicorn startups. The tech and digital industries are booming, especially in Stockholm, and growth is expected to continue in the coming years.

The obvious first milestone was the establishment of diplomatic relations in 1972, and over the years we have had embassies in each other’s countries actively working to further our relationship. Over the years, we have signed a number of cooperation agreements in the fields of investment protection, environmental protection technology, innovation, small and medium-sized enterprises, research and development, aerospace and other fields. There are frequent high-level political exchanges. Just recently, the Swedish government had the honor of welcoming Noura Al Kabi, Minister of State, to the EU Indo-Pacific Ministerial Forum in Stockholm.

Expo 2020 Dubai was a major milestone in our bilateral relationship, with several high-level visits from Sweden. The highlight of Expo 2020 Dubai for us was of course celebrating Sweden Day when we had the honor of hosting King Carl XVI Gustaf of Sweden.

I believe that both our countries can greatly benefit from closer cooperation, especially in the area of ​​green transition. With the upcoming COP28, we see a great opportunity to further expand our cooperation and join forces with the UAE to tackle climate challenges, while also looking for new opportunities in the green transition to create growth and new business opportunities. Sweden is very much looking forward to COP28 in Dubai, and we will do our best to make the summit a success and achieve concrete results.

Let me start by stating the obvious. Global warming is the most pressing issue we must address, and reducing greenhouse gas emissions is our shared responsibility. Sweden aims to become one of the world’s first fossil-free welfare states. Our goal is to achieve net zero greenhouse gas emissions by 2045 at the latest – our long-term goal – and to achieve net negative emissions thereafter.

Sweden takes the global challenges we face in this decade very seriously. We need bold and progressive solutions; the actions we take today will shape the future for generations to come. Sweden believes that global changemakers are the key to success. Sweden is leading the green and digital transformation in the areas of transport, green energy, smart manufacturing, life sciences and emerging technologies that are critical for sustainable growth.

Let me also take this opportunity to mention some high-profile industrial projects taking place in northern Sweden. The two projects involved carbon-free steel production, making Sweden not only the first country in the world to produce fossil-free steel, but also the first to export fossil-free iron to the world.Metallic iron is produced with hydrogen as the main reducing agent, which means that a large amount of green hydrogen is required

Another industrial project under the Fossil Free Initiative that deserves a closer look is the Northvolt project, which will produce green batteries primarily for the transport sector. In the northern Swedish town of Skellefteå, two lithium-ion battery gigafactories are under construction. Northvolt will soon become a European supplier of sustainable, high-quality batteries and systems. These projects of course require stable and renewable electricity, a challenge that needs to be addressed.

Due to the importance of COP28 for Sweden, we are looking forward to several high-level official visits. Also, we know that many sectors have shown strong interest in COP28; so I expect we will be very busy hosting several high level delegations to COP28!

Finally, 2023 is a double jubilee for Sweden, as it marks both the 50th anniversary of the accession of King Carl XVI Gustaf and the 500th anniversary of Gustav Vasa’s election as King of Sweden. How does the embassy in the UAE intend to commemorate the occasion?

Let me share a brief history lesson why the Double Jubilee is so important to Sweden. On June 6, 1523, Gustav Vasa was elected King of Sweden. That’s why Sweden celebrates its National Day on June 6th. With the election of Gustav Vasa, Sweden seceded from the Kalmar Union with Denmark and Norway and became independent again. Under King Gustav Vasa, the Protestant Reformation was introduced and the church was nationalized.

During the reign of King Gustav Vasa, Sweden also laid the foundations for the strong central governance that would develop over the centuries to come.

So this 500th anniversary and the 50th anniversary of the King of Sweden is something to celebrate, most notably our National Day, June 6th, when we will be with our Emirati friends, Swedish companies and many others. In addition to tasting Swedish food and music, we can also see Sweden’s impressive achievements in innovation.

Sweden is known for cutting-edge technology, renewable energy, sustainable transport, high-quality healthcare and a culture of innovation, among other things. Home of the Nobel Prize and a top country for innovation – as well as creativity index and patent registrations per capita – Sweden fosters a culture of innovation.

As part of our National Day celebrations to mark these important milestones, we staged the ‘Pioneer the Possible’ photo exhibition, taking viewers through a timeline of Swedish innovation – from safety matches, zippers, pacemakers, explosives, ball bearings and monkey wrenches , is the result of innovation for many Swedish multinationals such as ABB, AstraZeneca, Electrolux, Elekta, Ericsson, IKEA, Saab, Scania, Tetra Pak and Volvo.

The UAE is a forward-thinking country when it comes to technological development and innovation. We share a common ambition of innovation and development, but also face similar challenges. We hope to learn more from each other in this regard.

It is an honor to celebrate Sweden’s Double Jubilee in Abu Dhabi this year.

National Day Celebration is a great opportunity to highlight Sweden’s amazing history as well as the modern country today!