President Sheikh Mohamed on Monday received Irakli Kobakhidze, Prime Minister of Georgia, in Al Shati Palace, Abu Dhabi.
During the visit, the two leaders discussed ways to enhance co-operation between the UAE and Georgia, focusing on areas including investment, trade, the economy, agriculture, renewable energy and sustainability, state news agency Wam reported.
Sheikh Mohamed and Mr Kobakhidze, who is in the UAE on a working visit, also exchanged views on regional and global issues.
Sheikh Mohamed reaffirmed the UAE’s commitment to cultivating strong ties with other nations and described the Comprehensive Economic Partnership Agreement between the countries, which came into effect last year, as a “major milestone”.
Mr Kobakhidze thanked Sheikh Mohamed and highlighted Georgia’s commitment to strengthening its collaboration with the UAE. Both sides expressed confidence that relations would continue to grow stronger. The two men also witnessed the signing of a memorandum of understanding on investment to establish development projects in Georgia.
The meeting was attended by senior Emirati officials including Sheikh Saif bin Zayed, Deputy Prime Minister and Minister of Interior, Sheikh Hamed bin Zayed, Managing Director of Abu Dhabi Investment Authority, Sheikh Hamdan bin Mohamed, Deputy Chairman of the Presidential Court for Special Affairs, and Sheikh Mohamed bin Hamad, Adviser to the UAE President.
The burning issue
The internal combustion engine is facing a watershed moment – major manufacturer Volvo is to stop producing petroleum-powered vehicles by 2021 and countries in Europe, including the UK, have vowed to ban their sale before 2040. The National takes a look at the story of one of the most successful technologies of the last 100 years and how it has impacted life in the UAE.
Read part four: an affection for classic cars lives on
Read part three: the age of the electric vehicle begins
Read part one: how cars came to the UAE
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Hydrogen: Market potential
Hydrogen has an estimated $11 trillion market potential, according to Bank of America Securities and is expected to generate $2.5tn in direct revenues and $11tn of indirect infrastructure by 2050 as its production increases six-fold.
"We believe we are reaching the point of harnessing the element that comprises 90 per cent of the universe, effectively and economically,” the bank said in a recent report.
Falling costs of renewable energy and electrolysers used in green hydrogen production is one of the main catalysts for the increasingly bullish sentiment over the element.
The cost of electrolysers used in green hydrogen production has halved over the last five years and will fall to 60 to 90 per cent by the end of the decade, acceding to Haim Israel, equity strategist at Merrill Lynch. A global focus on decarbonisation and sustainability is also a big driver in its development.
