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UAE and Netherlands sign MoU on innovation

Agreement to foster knowledge and technology exchange in key technology areas

The MoU signed by the UAE and the Netherlands aims to encourage knowledge exchange and collaboration in key areas of development and technology.
The MoU signed by the UAE and the Netherlands aims to encourage knowledge exchange and collaboration in key areas of development and technology.

The UAE Ministry of Economy and the Netherlands Ministry of Economic Affairs have signed a memorandum of understanding (MoU) focused on innovation.

The MoU, which was signed by HE Eng Sultan bin Saeed Al Mansoori, Minister of Economy, and Henk Kemp, Dutch Minister of Economic Affairs, is intended to encourage knowledge and technology exchange between the two countries' respective business communities, scientific research institutions, and government agencies.

The MoU prioritises co-operation in five key areas of renewable energy and energy sustainability; food and water; space and aviation; life science and healthcare; and smart cities.

The agreement was signed last week at the business forum on innovation and smart cities held at the FME Association's headquarters in The Hague, Netherlands.

During his opening speech, HE Al Mansoori emphasized the vibrant economic and trade relations between the UAE and the Netherlands, as well as their shared interests in developing priority sectors as part of their respective economic development agendas. According to him, the foreign non-oil trade between the two countries amounted to about $3.8 billion by the end of 2015, and more than $2.7 billion during the first nine months of 2016.

The UAE Minister added that the next phase of their partnership will involve stronger economic relations in view of ongoing efforts to establish new cooperative mechanisms through exchange of expertise and experiences in the areas of innovation and small and medium enterprises (SMEs). HE Al Mansoori added that the UAE is looking forward to benefitting from the Netherlands' wide experience in innovative science and modern technology. This will help the UAE create a knowledge- and technology-driven sectors, including renewable energy, food, transport, logistics services, health care, and smart cities.

For his part, Kamp underscored his country's keenness to enhance its cooperation with the UAE, specifically in the mutually beneficial areas of innovation and advanced technology.

Kamp noted during his speech the UAE's steady development, making the Arab state a destination of choice for investors. H.E. also pointed out the Dutch companies' high interest to enhance their presence in the UAE market.

The Dutch Minister further highlighted a number of promising collaborative opportunities in the areas of research and technology, specifically in terms of the development of innovative infrastructure in transportation and advanced industries. He said that the Netherlands is one of the world's leading countries in these fields, adding that the latest MoU will enhance the cooperative framework in this regard.