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Japan and the United Arab Emirates began discussions to agree on technological cooperation to decarbonize the oil-producing state, several government sources said. With this agreement, Japan aims to attract active investment from the UAE by creating an environment in which Japanese startups work with UAE companies on innovation and new business plans.
Prime Minister Fumio Kishida and UAE President Mohamed bin Zayed Al Nahyan are expected to confirm the deal at a summit meeting scheduled 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 contribute to decarbonization.
The UAE has laid out a plan to reduce its greenhouse gas emissions to virtually zero by 2050, breaking away from its dependence on oil. As the host country of the 28th session of the Conference of the Parties to the United Nations Framework Convention on Climate Change (COP28) scheduled in November and December, the UAE wants to promote its decarbonization efforts by making use of Japanese technology.
Kishida will visit the UAE, Saudi Arabia and Qatar on July 16-19. Executives from about 30 Japanese companies will accompany the prime minister, who will observe a business forum planned to be held there.
In light of the sharp rise in oil prices due to Russia’s aggression in Ukraine, Japan is to confirm cooperation with the UAE and Saudi Arabia to stabilize the energy market. With Qatar, Japan is to agree on the continuous supply of liquefied natural gas to Japan.
