Abu Dhabi, 15 October 2022 (TDI): Undersecretary for Foreign Affairs of Chile, Ximena Fuentes, met with United Arab Emirates’s (UAE) Minister of Foreign Trade, Thani Bin Ahmed Al Zeyoudi.

The General Director of Bilateral Economic Affairs of the Undersecretary for International Economic Relations, Sebastián Gómez, accompanied the Undersecretary for Foreign Affairs, Ximena Fuentes.

The meeting focused on the economic relationship between UAE and Chile. The importance of enhancing bilateral trade ties was highlighted. Both ministers discussed ways to increase the capacity of renewable energy and the food security sector.

Later, they visited the Mohammed bin Rashid Al Maktoum Solar Park power plant, which is responsible for producing green hydrogen and solar energy.

UAE and Chile’s relationship

Chile and UAE’s bilateral relations have been growing exponentially since 2006 after Chile opened its Tarde Promotion office in Dubai.

Chile established its embassy in UAE in 2009 after Brazil and Argentina, becoming the third Latin American state to do so.

Over the years, the trade relations between both states are increasing. The strong commercial ties between Chile and UAE are time and again highlighted. Their trade relations are mainly led by the food industry and supported by the agriculture sector.

Another important and promising sector in their commercial ties is related to innovation and technology.

The renewable energy sector of Chile has been the highlight of its relationship with the UAE. As Chile does not have sufficient fossil fuel for its internal consumption, that is a reason the country has a great incentive for renewable energy production.

Chile is placed in the top five countries of the world in hydropower. Apart from hydro energy, solar and geothermal technologies have also been successful.

Also read: Chile’s commitment to climate action 

This provides impressive returns for investors from around the globe and particularly the UAE. Both states have discussed and underlined the importance of enhancing their capability in the renewable energy sector along with food security.