DUBAI- The UAE’s Ministry of Industry and Advanced Technology (MoIAT) and Spain’s Ministry of Industry, Trade and Tourism (MITT) signed a Memorandum of Understanding (MoU) to boost cooperation in the field of industry and advanced technology across multiple sectors.
The MoU aims to establish a framework that will facilitate and enhance the UAE and Spain’s industrial cooperation. Its objective is to advance industries in both countries through industrial collaborations, research and development, knowledge and policy exchange, and technology transfer.
Sarah bint Yousif Al Amiri, Minister of State for Advanced Technology, and Mar?a Reyes Maroto, Spain’s Minister for Industry, Trade and Tourism, signed the MoU in the presence of officials from both countries.
Sarah Al Amiri said, "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." She added, "Knowledge- and experience-exchange serves our national goals outlined in the Projects of the 50, where we launched the Fourth Industrial Revolution Programme, UAE Industry 4.0, to increase the level of industrial productivity by 30 percent and add about AED25 billion to the national economy within 10 years.
"This will stimulate the performance of the UAE’s industrial sector and enhance its competitiveness regionally and globally, within a national directive that supports the UAE’s digital, technical and scientific excellence. It will also strengthen the UAE’s status as a global capital for talent, companies and investments, and a leading global destination for future industries."
Maria Reyes Maroto said, "The United Arab Emirates is Spain's strategic partner and 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.
"The important bilateral agreements signed will contribute to this, such as the MoU on cooperation in the field of industry and advanced technologies, an agreement to facilitate and promote industrial cooperation between the UAE and Spain, that encourages bilateral investments and the transfer of key technologies in the industry. This instrument will be very useful to channel future industrial projects, financing and know-how and contribute to the process of modernisation and economic transformation of Spain and the UAE." Areas of collaboration include aerospace, automotive, health and life sciences, fourth industrial revolution technologies, and standards and regulations.
© Copyright Emirates News Agency (WAM) 2022.