[ad_1]
Prime Minister Fumio Kishida
July 11, 2023 13:21 JST
Japan and the United Arab Emirates have begun discussions to agree on technical cooperation to decarbonize the oil-producing nation, several government sources said. Through this agreement, Japan aims to create an environment for Japanese start-ups to collaborate with UAE companies on innovation and new business initiatives, thereby attracting active investment from the UAE.
Japanese Prime Minister Fumio Kishida and UAE President Mohamed bin Zayed Al Nahyan are expected to confirm the deal at a summit in the UAE in mid-July. They plan to develop technologies to produce next-generation energy sources such as hydrogen and ammonia, which are expected to help decarbonise.
The UAE has a plan to wean itself off oil by reducing greenhouse gas emissions to almost zero by 2050. As host of the 28th Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28), scheduled for November and December, the UAE hopes to tap Japanese technology to boost its decarbonization efforts.
Kishida will visit the United Arab Emirates, Saudi Arabia and Qatar from November 16 to 19. Executives from about 30 Japanese companies will accompany the prime minister, who will watch a business forum planned there. ***
Japan will confirm cooperation with the UAE and Saudi Arabia to stabilize energy markets in light of the sharp rise in oil prices caused by Russia’s aggression in Ukraine. Japan will reach an agreement with Qatar on the continued supply of liquefied natural gas to Japan.
[ad_2]
Source link