Abu Dhabi: The United Arab Emirates and Scotland have signed a memorandum of understanding. MoU was signed during the recent visit of Scotaland’s cabinet secretary Neil Gray to UAE. He was given a warm welcome by the Thani bin Ahmad Al Zeyoudi, Minister of State for Foreign Trade. The objective of the MoU is to enhance the mutual cooperation between both countries in different fields, including trade, technology, innovation research, etc.

On Wednesday, The meeting discussed many issues and ways to develop investment and trade opportunities, which concluded with the signing of the MoU. MoU seeks to improve bilateral trade along with private and public sector partnerships in the fields of education, research, innovation and modern-day technology.

It is to be specifically mentioned that at the beginning of this year, a UAE-Scotland taskforce was established to find the areas of mutual interest of both countries. MoU is seen as the outcome of the task force’s work to upscale the collaboration in the sector of clean energy and artificial intelligence on a priority basis.

During the meeting, Dr Thani expressed hope that this MoU is one step further in the direction of strong and determined bilateral relations.

He further that “UAE and Scotland are the like-minded partner. Both countries are leveraging innovation, investment, and talent to transform the economy of their respective countries. As we enter the era of a knowledge economy, it is important to exchange insights, expertise and experiences with each other. UAE and Scotland are on similar growth trajectories, and there is a need to establish joint initiatives in the public, private and academic areas that can improve our economic diversification ambitions. This MoU is a symbol of the UAE’s intention to deepen the partnership with Scotland,” Dr Thani said.

On the other hand, Neil Gray said, “I welcome this historic moment of MoU signing. Collaboration with the UAE and other countries of the Middle East will meet our shared goals and will also promote economic relations. Moreover, I am looking forward to the positive outcome of this memorandum of understanding.”

Both countries already enjoy productive economic relations. The two nations shared non-oil trade in excess of US$870 million in the year 2022, an increase of 70 per cent from 2021.