US, UAE Presidents Discuss Investment Partnership in Clean Energy

The virtual meeting between Emirati President Sheikh Mohamed bin Zayed Al Nahyan and US President Joe Biden on Wednesday (WAM)
The virtual meeting between Emirati President Sheikh Mohamed bin Zayed Al Nahyan and US President Joe Biden on Wednesday (WAM)
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US, UAE Presidents Discuss Investment Partnership in Clean Energy

The virtual meeting between Emirati President Sheikh Mohamed bin Zayed Al Nahyan and US President Joe Biden on Wednesday (WAM)
The virtual meeting between Emirati President Sheikh Mohamed bin Zayed Al Nahyan and US President Joe Biden on Wednesday (WAM)

UAE President Sheikh Mohamed bin Zayed Al Nahyan and US President Joe Biden reaffirmed on Wednesday the depth of the US-Emirati strategic relationship and addressed global challenges including energy security.

In a virtual meeting, the two leaders discussed the comprehensive UAE-US initiative announced on Thursday to accelerate investment in clean energy, advance shared climate goals and strengthen global energy security.

The partnership between both countries will mobilize $100 billion in funding and investment to deploy 100 new gigawatts of clean energy in the US, UAE, and emerging economies around the world by 2035.

The two Presidents welcomed the initiative and reaffirmed their shared commitment to enhancing climate ambition and climate action, in line with their net zero 2050 goals and ahead of COP27 in Egypt later this month and of COP28 in the UAE next year, according to Emirates News Agency, WAM.

They also noted the importance of a rapid and well-managed energy transition and its potential to create expanded economic opportunities and drive more sustainable growth.

Both leaders then shared their common interests in stabilizing the global energy market and in increasing their investments in renewable energy and pledged to deepen their close cooperation.

Meanwhile, Sheikh Mohamed outlined the UAE’s significant ongoing investments to lower carbon impact on the energy sectors of both conventional and renewable energy.

He then expressed his country’s long-standing concern about the impacts of global warming, and noted the UAE’s leading role in the energy transition, expanding its own renewable energy capacity 200-fold over the last ten years which included building three of the largest and lowest-cost solar projects in the world.

The Emirati President briefed his US counterpart on the UAE’s funding and assistance for clean energy projects on six continents, including in 31 small island developing states in the Caribbean and the Pacific Ocean as well as a growing number of projects across the US.

On Wednesday, Mohamed bin Zayed had witnessed the signing of a comprehensive strategic partnership between the UAE and the US to invest in clean energy.



GCC-EU Summit Poised to Back Two-State Solution

Christophe Farnaud, the European Union’s ambassador to Saudi Arabia, Bahrain, and Oman (Asharq Al-Awsat)
Christophe Farnaud, the European Union’s ambassador to Saudi Arabia, Bahrain, and Oman (Asharq Al-Awsat)
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GCC-EU Summit Poised to Back Two-State Solution

Christophe Farnaud, the European Union’s ambassador to Saudi Arabia, Bahrain, and Oman (Asharq Al-Awsat)
Christophe Farnaud, the European Union’s ambassador to Saudi Arabia, Bahrain, and Oman (Asharq Al-Awsat)

The escalating conflicts in Gaza and Lebanon are pushing the two-state solution to the forefront of the agenda for the upcoming Gulf Cooperation Council-European Union (GCC-EU) Summit in Brussels next Wednesday.
The summit is expected to back the Global Alliance for Implementing the Two-State Solution, recently launched by Saudi Arabia.
Christophe Farnaud, the EU’s ambassador to Saudi Arabia, Bahrain, and Oman, said the EU and Gulf countries are united in their call for a ceasefire in Lebanon.
Speaking to Asharq Al-Awsat, he also expected a strong, unified position on establishing a Palestinian state during this first-of-its-kind summit.
Farnaud highlighted the EU’s support for a ceasefire in Gaza, the release of hostages, and humanitarian aid, while reaffirming the EU’s alignment with Arab and Gulf nations on the two-state solution.
Recognition of Palestine ‘Just a Matter of Time’
On the topic of recognizing a Palestinian state, Farnaud revealed that many EU member states have reached an initial agreement, and it's “only a matter of time” before more countries officially recognize Palestine.
Some have already done so, while others are deciding the right timing.
He praised the Saudi-led Global Alliance for Implementing the Two-State Solution, launched in September, which includes Arab, Islamic, Norwegian, and EU support.
The initiative was well received internationally, with EU foreign policy chief Josep Borrell commending Saudi Arabia’s efforts during a recent UN meeting on Gaza.
Norwegian Foreign Minister Espen Barth Eide called the two-state solution “the only reliable path to peace in the Middle East” and stressed the need to establish a Palestinian state now.
Economic Partnership, Cooperation
On the economic front, Farnaud said the summit will build on previous meetings to strengthen long-term partnerships between the EU and the Gulf. The leaders will discuss economic, investment, and trade cooperation, with trade in goods alone between the two regions reaching €170 billion.
Key Issues on the Summit Agenda
The summit will also address security, regional stability, and ongoing crises in Gaza, Lebanon, Sudan, and the Red Sea. Both sides are committed to finding diplomatic solutions to these issues.
Free Trade, Visa Cooperation
Farnaud confirmed the EU’s commitment to reaching a free trade agreement with Gulf countries, while noting that some technical issues remain. He also expressed interest in advancing talks on a potential visa waiver between the Schengen area and Gulf nations.
The summit will be the first of its kind between the GCC and the EU. Farnaud recently held positive discussions with Saudi officials to finalize preparations and set priorities for the meeting.