UAE and Israel to establish joint research fund to combat climate change

The initiative to address pressing global issues was announced following Israeli PM Naftali Bennett's UAE visit

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meets Israeli Prime Minister Naftali Bennett at Al Shati Palace. Photo: Mohamed Al Hammadi / Ministry of Presidential Affairs

Sheikh Mansour bin Zayed, Deputy Prime Minister and Minister of Presidential Affairs, Sheikh Abdullah bin Zayed, Minister of Foreign Affairs and International Co-operation, Sheikh Tahnoun bin Zayed, National Security Adviser, Sheikh Khaled bin Mohamed, Member of Abu Dhabi Executive Council and Chairman of Abu Dhabi Executive Office, Sheikh Mohamed bin Hamad, Private Affairs Adviser in the Ministry of Presidential Affairs, and Sheikh Hamdan bin Mohamed attend a meeting with the Israeli prime minister at Al Shati Palace. Photo: Mohamed Al Hammadi / Ministry of Presidential Affairs

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, and Israeli Prime Minister Naftali Bennett at Al Shati Palace. Photo: Abdulla Al Neyadi for the Ministry of Presidential Affairs

Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, meets Israeli Prime Minister Naftali Bennett at Al Shati Palace. Photo: Mohamed Al Hammadi / Ministry of Presidential Affairs

The UAE and Israel are to establish a joint research and development fund to help combat climate change and promote the use of clean energy.

The key partnership was announced following the conclusion of the landmark visit by Israeli Prime Minister Naftali Bennett to the Emirates.

The fund, which will involve the creation of a UAE-Israeli business council, will tap into the best economic and technological minds of both nations to seek solutions to a range of pressing issues, with agriculture and desertification also high on the agenda.

During his visit to the UAE, Mr Bennett held high-level talks with Sheikh Mohamed bin Zayed, Crown Prince of Abu Dhabi and Deputy Supreme Commander of the Armed Forces, at Al Shati Palace in the capital.

In a joint statement issued on Monday, the two countries reflected on the Israeli prime minister's visit as a "milestone in the development of the strong relations and the great partnership".

Talks covered a variety of fields, including economy, infrastructure, logistics, food security, environment and tourism.

"During the visit, the two sides stressed the common desire to support many important areas of co-operation to enhance trade and economic relations, through the establishment of a joint fund for research and development. Solutions to challenges such as climate change and desertification as well as clean energy and future agriculture," said the statement, carried by state news agency Wam.

"The two sides seek to leverage the strengths and strategic relationships of the business community of the two countries, not only to promote bilateral trade and innovation, but also to bring together technologies and business opportunities in markets in the Middle East, CIS, East Asia and Africa."

The UAE and Israel discussed efforts to overcome the Covid-19 pandemic and explored ways to work together over the testing and treatment of the virus.

"In addition, the two countries will continue to encourage tourism, promote the values ​​of tolerance between religions, and develop relations between peoples," it said.

'Visit will bolster our ties'

Sheikh Mohamed said he hoped the visit would help to grow relations even further between the two nations.

Mr Bennett praised the level of co-operation between the two countries and the steps they were taking based on the Abraham Accords signed by the two countries last year.

Earlier, the Israeli prime minister described the potential for trade between his country and the UAE as limitless.

In September last year, the UAE and Israel normalised relations through the signing of the Abraham Accords and much has been done since then to bolster a flourishing friendship.

Mr Bennett said the visit underlined the progress in relations between the countries.

"In my opinion, this is the peace and the new reality this region is witnessing, and we are working together to ensure a better future for our children," Mr Bennett told Wam.

The two nations have strengthened bonds in a variety of sectors, particularly in the area of trade.

Non-oil trade between the UAE and Israel reached $700 million in one year, according to the Minister of Economy, Abdulla bin Touq.

The two countries also signed 60 major agreements at the government and private sector levels, covering industries such as science and technology, artificial intelligence, tourism, logistics, transportation, health care and energy.