UAE, Spain to Bolster Alliance in Industrial and Tech Advances
In alignment with the National Strategy for Industry and Advanced Technology’s (MoIAT) goals to heighten innovation and revolutionize technological adoption, Spain’s Ministry of Industry, Trade, and Tourism (MITT) signed a Memorandum of Understanding (MoU) to establish a robust industrial collaboration with the United Arab Emirate (UAE).
The MoU will structure a solid framework to simplify and empower the industrial cooperation between both countries, to forge ahead vital industrial collaborations, research and development (R&D), knowledge and policy exchange, and technological transfer,” according to Khaleej Times.
In the presence of highly ranked officials from both countries, the UAE’s Minister of State for Advanced Technology, Sarah Al-Amiri, and Spain’s Minister of Industry, Trade, and Tourism, Maria Reyes Maroto, signed the MoU last Wednesday.
“In line with the directives of our wise leadership as part of the Principles of the 50, the Ministry aims to enhance innovative industries in the UAE to build the world’s most active economy. We look forward to a fruitful collaboration with Spain’s Ministry of Industry, Trade, and Tourism, through joint efforts in advanced technology and research and development, to support the transformation towards a knowledge-based economy,” Sarah Al-Amiri said in a statement.
The Emirate’s minister further added this partnership would play as one of the leading contributors to fulfilling the country’s national goals delineated in the Projects of the 50, where the UAE will launch the Fourth Industrial Revolution Program and UAE Industry 4.0.
This will empower the degree of industrial efficiency by almost 30 percent, adding around $6.81 billion to the country’s national economy in a matter of ten years. By revitalizing the UAE’s industrial sector and increasing regional and global competitiveness – all within national directiveness boundaries – the move will lay the foundation for UAE’s digital, technical, and scientific thrive.
On its part, Spain’s Minister of Industry, Trade, and Tourism further emphasized the vitality of building a sturdy partnership with the Emirates, saying, “the UAE is a strategic partner for Spain. Prime minister Pedro Sanchez’s visit will contribute to the strengthening of political and economic relations between our two countries. I have had the opportunity to confirm the excellent bilateral relations that exist between our countries and the commitment to continue strengthening them in the coming years.”
Maroto then elaborated on the importance of signing bilateral agreements, such as the MoU on cooperation in both industry and advanced technologies, reaching joint agreements to simplify and encourage industrial liaisons between Spain and the UAE.
By doing so, the collaborative association between both countries will bring forth a much more extensive wave of bilateral investments and transfer significant technologies in the industry.
The modernization and economic reshaping of Spain and the UAE will be directed at areas such as aerospace, automotive, health and life sciences, fourth industrial revolution technologies, and standards and regulations.