The National Reconstruction Fund has signed an Memorandum of Understanding with the Abu Dhabi Investment Office to promote investment and exchange information on industrial priorities.
Signed this week, the agreement builds on the Comprehensive Economic Partnership Agreement (CEPA) between Australia and the UAE, which came into effect in earlier this month.
It is designed to encourage foreign direct investment in sectors aligned with both countries’ industrial priorities, particularly energy transition, advanced manufacturing and emerging technologies.
ADIO chief trade and industry officer Mohammad Ali Al Kamali and NRFC chief executive David Gall. Image supplied
The arrangement also establishes a framework to share knowledge on industrial policy and facilitate investment, with the potential to collaborate on joint projects in the future where interests align.
NRFC chief executive David Gall said the partnership marks an important step in strengthening Australia’s international investment ties.
“In a global, interconnected world, partnerships like this are crucial to helping increase foreign direct investment into both Australia and Abu Dhabi,” Mr Gall said.
ADIO chief trade and industry officer Mohammad Ali Al Kamali said the partnership would deepen ties between “two dynamic markets that offer sustainable growth”.
“Together we will unlock new opportunities for investment and innovation across sectors of the future, from new energy and advanced manufacturing to life sciences and digital technologies – ensuring mutual prosperity and lasting value for our nations and partners,” Mr Kamali said.
The UAE is Australia’s largest trade and investment partner in the Middle East, with two-way goods and services trade worth $12.3 billion in 2024, according to the Department of Foreign Affairs and Trade.
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