‘Agreement’ to connect India-UAE renewable energy, ‘MOU’ for Korea’s UAE Defense Nuclear Power Plant

India and the United Arab Emirates (UAE) have reached a 'major agreement' on renewable energy interconnection between the two countries, India's Minister of Electricity and Renewable Energy announced on the 15th.
India and the UAE signed a broad trade and investment agreement on February 18 last year, which stipulates a reduction in all tariffs on each other's goods and an increase in annual trade between the two countries to $100 billion within five years.
The free trade agreement by tariff reduction revealed the strategy of strengthening the status of the Gulf countries as a business hub, and selected the trade agreement signed with India as the first concrete agreement.
India's Energy Minister Raj Kumar Singh, who is visiting Gulf Arab oil producers to attend the International Renewable Energy Agency (IRENA) meeting currently being held in Abu Dhabi, the UAE capital, told Reuters on the day that the agreement is awaiting final approval. "Both sides have agreed. We believe it will come," he said on the 15th.
"There is a major agreement on interconnection between the UAE's electricity grid and India's electricity grid," Singh said. Explained.
The OSOWOG initiative, first proposed by India's Prime Minister Narendra Modi, aims to create a strategic grid interconnection scheme that transmits renewable energy power through a connected grid.
India and the UAE previously signed a memorandum of understanding on January 13 on the development of green hydrogen produced using renewable energy, the Indian Embassy in the UAE announced on Twitter on the 13th.
Following Reuters, Minister Singh said that the UAE wants to invest more in renewable energy projects in India, including solar and wind power.
Minister Singh endorsed the UAE as host of this year's COP28 climate conference and endorsed Sultan Al Jaber, head of the UAE's state oil company ADNOC and the UAE's special envoy for climate, for nomination as the COP28 chair.
Javert's appointment to the chair was criticized at the time by some activists who were concerned about fossil fuel interests stealing the global response to the environmental crisis.
"He (Jaber) is a key figure in renewable energy and climate change," said Singh, India's Minister. He explained the reasons for his support.
Jaber is the UAE's Minister for Industry and High Technology, and in 2006 he spearheaded the founding of Masdar, a renewable energy company in Abu Dhabi.
The oil-producing and oil-exporting UAE is attempting a realistic transition to maintain a major role in energy security, with major commitments to decarbonization by curbing hydrocarbons with other Gulf energy producers.
India and the UAE's tariff-cutting free trade agreement in February of last year was kicked off with the signing of senior officials from both countries, already key trading partners, during a summit meeting between Indian Prime Minister Narendra Modi and UAE de facto ruler Sheikh Mohammed bin Zayed Al Nahyan.
The joint statement between the two countries stated that "the agreement (omitted) not only deepens economic and trade relations with close partners, but also opens up a new stage of global cooperation for us."
India's Commerce Minister Piyush Goyal told reporters at the time that the deal could create more than a million jobs in India over the next few years, particularly in labour-intensive sectors such as the automotive industry, plastics, leather and engineering. The UAE has announced plans to expand investment in Indian industries.
UAE Foreign Trade Minister Thani Al Zeyoudi told Reuters at the time that there would be "a huge flow of trade and investment between the two countries, opening the door for more business opportunities".
India's Prime Minister's Office said in February last year that the Comprehensive Economic Partnership Agreement (CEPA) with the UAE is expected to boost annual bilateral non-oil trade from $60 billion to $100 billion within the next three to five years.
CEPA is expected to go into effect by May after UAE cabinet approval, India's Commerce Minister Goyal told Reuters.
The India-UAE Economic Partnership Agreement (CEPA) would eliminate 80 per cent of tariffs on UAE-Indian goods to “eliminate all tariffs within 10 years,” UAE Trade Minister Al Zeyoudi told Reuters.
“UAE commodities such as aluminum, copper and petrochemicals will benefit from the elimination of tariffs,” he said. It also includes the promise of the UAE,” he said.
Reuters said on February 18 last year, “India is the UAE’s second largest trading partner, with more than 3 million Indians working in the Gulf state sending billions of dollars in remittances back home each year.” It added $9 billion (1.7%) to the UAE's gross domestic product (GDP), increased exports by $7.6 billion (1.5%) and imported $14.8 billion (3.8%). We are pursuing similar trade and investment agreements with countries and expect to conclude bilateral negotiations with Israel and Indonesia soon.”
It has also announced a series of regulatory and social reforms in recent years to make business and life easier in a country where most of its 10 million population are foreigners.
“We are moving from a regional to a global hub,” UAE Trade Minister Al Zeyoudi said in a trade deal and policy presentation in February last year.
On the 15th, President Yoon Seok-yeol announced on Facebook that he would “not forget his trust” with UAE President Muhammad bin Zayed Al Nahyan, who promised to invest 30 billion dollars in Korea.
At the summit between the two countries, the President's Office said that the President of the UAE cited "trust in the Republic of Korea that keeps its promises under any circumstances" as the reason for the investment decision. Its true value will be confirmed through strategic cooperation in the energy field, and its meaning will be proven through various exchanges and cooperation in the military and cultural fields."
The Korea Defense Acquisition Program Administration (DAPA) announced on the 16th that it had signed a Memorandum of Understanding (MoU) on the 15th for Korea-UAE strategic defense industry cooperation. and joint investment in the development of defense technology cooperation, continued research and technology development efforts, and identified the two countries as a 'special strategic partnership', and the goal is to promote defense industry cooperation.
"During the time our two countries have been together, we have created a myth of successful peaceful use of nuclear energy that serves as an example to the world," said the president of the UAE.
At the summit, Korean media outlets said, "According to the decision, the amount of investment from the UAE sovereign wealth fund is expected to be equally invested in Korea's nuclear power plant, defense industry, and hydrogen/solar energy fields." ’ 13 cases are also part of the investment,” and “promises such as joint advancement into third countries for nuclear power plants, joint cooperation between Abu Dhabi’s second-largest sovereign wealth fund and Korea Development Bank, oil-related Korea-UAE international joint stockpiling project, etc.”

The AP said, “South Korean President Seok-Yeol Yoon visited the UAE on Sunday and was welcomed by the honor guard to expand munitions sales there.” It came amidst the deal and the stationing of special forces to defend the UAE, and the conservative leader wants to double these military ties even as Tehran has already captured a South Korean tanker in 2021 due to tensions with neighboring Iran.”
The Associated Press said on the 13th, “Yonhap News, citing an unnamed presidential official, said that an arms deal was planned.” has signed UAE officials grow increasingly concerned about protecting airspace after being targeted by Iran-backed Yemeni's long-range drone strikes, but Patriot missiles shake Abu Dhabi's defenses for the first time since U.S. forces invaded Iraq in 2003, especially in the UAE reported that it had hedged its dependence on US military aid after the US blitz withdrawal from Afghanistan,” and announced its choice of South Korea as a “replacement of US security dependence.”

On the 15th, President Yoon said, “The security of our brother country is our security,” and said, “The UAE’s enemy, and the most threatening country, is Iran, and our enemy is North Korea,” referring to Iran as an “enemy.” .

On January 17 of last year, President Moon Jae-in met with UAE Prime Minister Sheikh Mohammed bin Rashid Al Maktoum in Dubai, after which the UAE signed a memorandum of understanding to purchase South Korean medium-range missile defense systems worth about $3.5 billion.

Reuters reported on the 15th, “The Korean Ministry of Finance announced that the 30 billion dollar investment will be led by sovereign wealth funds, including the Mubadala Investment Company.” Thirteen memorandums of understanding were signed, including an agreement to cooperate for investment.”
On the 13th, the UK Energy Minister visited Abu Dhabi and signed a memorandum of understanding between the energy ministers of the two countries to strengthen energy sector strategies and technological cooperation.
The UK's Department for Business, Energy and Industry Strategy said in a statement today that the MOU will stimulate the sharing of technical knowledge, advice, skills and expertise, opening new avenues for cooperation between the UAE and the UK on energy and climate, while stimulating jobs and investment in the UK. revealed
UAE Energy Minister Suhail Al-Mazruei said, "The MOU with the UK is of great mutual interest to both countries as it helps to implement an energy policy that provides low-carbon, safe and sustainable energy supply at an affordable price." important," he said.
"International cooperation on energy and climate with close partners such as the UAE is important and we will have our full support at every stage as we take center stage as host of COP28 later this year," said UK Energy Secretary Grand Sharp. Reuters reported.