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RegisterIn 2019 Saudi Arabia and Germany established the Saudi-German Energy Dialogue, an initiative between Saudi Arabia’s Ministry of Energy and the German Federal Ministry for Economic Affairs and Climate Action. This dialogue has been promoting increased interactions amongst public and private stakeholders from both countries, with a focus on sustainable energy developments.
In May 2023, a number of developments in this area took place. The second "Saudi-German Energy Day" took place on 7 May. This event aimed at fostering connections among energy partners from more than 120 companies. Also in early May, a Saudi delegation led by Energy Minister Prince Abdulaziz bin Salman travelled to Germany to meet with senior local officials. During the meeting, the two partners agreed to further deepen their cooperation ties in the field of energy, with particular emphasis on electricity, green energy solutions and hydrogen. Prince Abdulaziz bin Salman also engaged in discussions with the German Minister of Economy and Climate Action Robert Habeck, focusing on exploring further collaborative opportunities in carbon capture, utilisation, recycling, and storage initiatives under the circular carbon economy framework, which endeavours to minimise carbon production, and waste, and protect the environment by ensuring materials and products are reused, recycled, or shared to keep them in the production and consumption cycle for as long as possible
Since 2022, Germany and Saudi Arabia have been actively strengthening their cooperation ties. In September of that year, Chancellor Olaf Scholz travelled to Riyadh and held discussions with Crown Prince Mohammed bin Salman, aiming to lay the groundwork for enhanced collaboration in the energy sector, expanding beyond fossil fuels to encompass hydrogen and renewable energies. In March 2023, the two partners solidified their commitment through the signing of no fewer than seven agreements for enhanced cooperation in chemicals, waste management, and renewable energy following a three-day visit by a high-level delegation to Berlin.
The May meetings also saw the participation of representatives from the Saudi Public Investment Fund and prominent German energy firms. Additionally, both sides conducted a comprehensive review of the preparations for COP 28, slated to take place in the UAE in November 2023.
Recognising the growing significance of the relationship with the Gulf States, the European Union (EU) is also placing increased importance on its ties with Saudi Arabia. A notable development took place on 10 May 2023, when the EU mission in Riyadh organised a special workshop dedicated to activating the role of European chambers of commerce in third markets, seen as a crucial step toward establishing the inaugural European Chamber of Commerce in Riyadh.
Patrick Simonet, the EU ambassador to Saudi Arabia, emphasised that the recent establishment of a strategic partnership between the EU and the Gulf Cooperation Council (GCC) will contribute to further enhancing economic interaction. This collaboration aims to support economic strategies such as the European Green Deal and Saudi Vision 2030, designed to support the transition to green energy and sustainability.
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