The French government announced on Monday evening that an agreement

The French government announced on Monday evening that an agreement

The Paris government sent a press release on Monday evening on the signing of an important agreement. It comes at a time when the President of the United Arab Emirates (UAE) is on a visit to Paris, which will end on Tuesday, July 19.

In the context of the international press, this partnership aims to identify joint investment projects in France, the United Arab Emirates, but also elsewhere.

Also, these investment projects target areas such as hydrogen, renewable and nuclear energy, it is also shown in the press release sent by the Paris Executive.

Thus, “In the current uncertain energy context, this agreement will pave the way for a stable framework for long-term cooperation and new industrial contracts,” the statement said, quoted by Reuters.

The international press also writes that the signing of this agreement took place with the visit of the President of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, in the French capital. We remind you that the visit during this period is the first international visit made by the President of the United Arab Emirates since he was replaced by his stepbrother Khalifa bin Zayed al-Nahyan.

France is in the midst of an energy crisis

France is currently in the midst of an energy crisis: Russia continues to cut off Europe’s supply, while historic heat waves are driving up demand for gas to cool homes. If prices continue to rise, a cold winter awaits us. But help, at least temporarily, may have landed in Paris.

Specifically, the President of the United Arab Emirates, Sheikh Mohammed bin Zayed al-Nahyan, landed in the French capital on Monday to discuss with President Emmanuel Macron about the “future of energy” between the two nations. It is the first visit by a United Arab Emirates leader to France since 1991, according to the Elysee, and is Sheikh Mohammed’s first trip to a Western nation since taking office as president, underscoring the strength of relations between the two countries.

In the political-economic context, on the first place on the agenda of Paris and Abu Dhabi is an agreement signed on Monday that guarantees the supply of diesel from the United Arab Emirates to France, according to a source at the Elysee Palace.

Thus, Macron and Sheikh Mohammed are also looking to set up a fund for climate-related projects, as well as investment opportunities in other energy sources, including hydrogen, nuclear and renewable energy, the same source told reporters on July 15.

In his opinion, “The agenda of the visit will be dominated by energy issues. The main concerns in France are the economic consequences of the war in Ukraine, “Anna Gardel, a golf analyst at the Jean Jaurès Foundation’s MENA Observatory, told CNN’s Becky Anderson on Monday.

A message to the United States

Politically, Sheikh Mohammed’s visit comes after US President Joe Biden’s trip to Saudi Arabia, with Western powers hoping that Riyadh and the United Arab Emirates will increase oil production to reduce rising energy prices following the invasion. Russians in Ukraine. Concerns about Europe’s energy supply have intensified further this week amid fears that Russia will keep its taps closed at the Nord Stream 1 pipeline – a crucial artery that connects Russian gas to the bloc.

So, “This visit could also be a message sent to the US, which is the UAE’s traditional ally in the region, in a context where the US is withdrawing from the region; it is no longer perceived as a reliable ally. Elysee has a lot to gain from this visit, “Gadel told CNN Business.