France and the United Arab Emirates are working to strengthen their economic relationship with "concrete outcomes" expected in the near future. It comes as the UAE gears up to host the next UN Cop28 climate summit, which will start at the end of November.
2022 saw the UAE and France sign a comprehensive strategic energy partnership, which focuses on enhancing energy security, affordability and decarbonisation, and progressive climate action before COP28.
Bilateral trade between the UAE and France reached 25 billion dirhams ($6.81 billion) in 2021, an increase of 25.9% from the previous year, an Emirati official said last year.
Why it matters
The relationship between the UAE and its French counterparts has been on the rise since President Macron's visit to the UAE last May and President Sheikh Mohamed’s visit to Paris in July. The agreement has also seen Emirati companies sign significant investment and co-operation agreements with their French partners. Mubadala Capital, announced a $2.1 billion private equity partnership with French private investment house Ardian.