The United Kingdom and Saudi Arabia signed a Memorandum of Understanding last week which commits both countries to working together on developing new technologies to reduce carbon emissions and sharing technical knowledge with one another.
On Friday, the UK’s Business Secretary Greg Clark signed a Memorandum of Understanding (MoU) on Clean Energy with Saudi Arabia’s Minister of Energy, Industry and Mineral Resources Khalid A Al-Falih, which commits the two countries to working together on developing technologies with the potential to reduce carbon emissions that nevertheless help grow their respective economies.
As such, the two countries will share technical knowledge and expertise on clean energy with one another, including information on smart grids, electric vehicles, and carbon capture technology. The MoU is one of several that were signed between the two countries as part of the larger UK-Saudi Strategic Partnership Council.
“Our Industrial Strategy sets out a long-term plan to build a Britain fit for the future,” said Business Secretary Greg Clark. “This means equipping our economy to take advantage of new opportunities and build resilience to new risks.
The global shift to clean growth is one of the most foreseeable and significant global economic trends and will transform many sectors of the economy, including power, transport, construction, energy-intensive industries and agriculture.
This Memorandum of Understanding will help both the UK and Saudi Arabia make the most of this shift.
“Through our Vision 2030, Saudi Arabia has a blueprint to guide its future development through diversifying our energy mix, expanding on key industries and mining opportunities, as well as investing on science and innovation to meet current challenges,” added Saudi Arabia’s Minister for Energy, Industry and Mineral Resources, Khalid A Al-Falih.
The UK and Saudi Arabia have also agreed to meet yearly for an Energy and Industry Dialogue which would allow the two countries to further identify areas in which they can collaborate. Secretary Greg Clark is also set to visit Riyadh later this year to further the collaboration on energy matters.