UAE President pledges support for global energy security in his first address to the nation
The President of the United Arab Emirates, Mohamed bin Zayed, begins his term in office with a momentous address to the nation marked by the current global energy situation. Ensuring energy security and pledging stability and peace in the Middle East were the main themes of Mohamed bin Zayed's first address to the nation since he took office in May after succeeding his late half-brother Khalifa bin Zayed.
"We will continue to consolidate the UAE's position as a reliable energy supplier and in support of global energy security, which is the backbone of enabling economic growth and global development," the president said in a speech broadcast on major radio and television networks.
Bin Zayed also noted that the UAE has "a developed, integrated and sustainable economic system", and had become a source of inspiration and hope for other countries in the Gulf and around the world. "The UAE's economy is one of the most powerful, and it continues to grow," he said.
However, the speech also addressed the challenges for the country under Bin Zayed's new mandate. Diversification of the economy, competitiveness, development of science and technology and support for the private sector are some of the challenges that the UAE must take on in this new roadmap.
In this sense, Bin Zayed recognised that the main path to follow was to continue with the strategic lines and friendship with the rest of the countries. "The UAE will continue to support peace and stability in our region and in the world, and will call for wisdom and cooperation," he said, alluding to the role played by the Gulf state in 2020, the first to establish relations with Israel.
"We will work to strengthen our role among the world's leaders in providing humanitarian aid, and we will continue to extend a helping hand to communities around the world regardless of religion, race or colour," concluded the Emirati president's 12-minute speech, which outlined the nation's future.
The speech was also marked by novelty. Mohammed bin Zayed, 61 years old, was elected president of the country on 13 May last by the Supreme Council of the Union in the UAE, although he had been in office de facto since 2016 due to the state of health of his predecessor, Khalifa bin Zayed.
These declarations also come at a critical time for energy supplies for all countries, and especially for Europe. The West's dependence on Russian gas, critical after the invasion of Ukraine, makes the United Arab Emirates a possible energy supplier. The Gulf country is one of OPEC's main exporters and has more than 6% of proven oil reserves
A situation that has not gone unnoticed in Paris. The French Finance Minister, Bruno Le Maire, described it as "a temporary alternative to Russian oil and diesel". Incidentally, Bin Zayed will visit the country on 18 July to discuss the proposal, among other issues.
Finally, the speech also coincides with US President Joe Biden's first visit to the Middle East, where he will meet in the Saudi city of Jeddah with the heads of state of Egypt, Jordan, Iraq and the leaders of the Gulf Cooperation Council (GCC), including the UAE. The meeting will address many issues, including the possibility of Gulf oil producers increasing production to help reduce oil prices.
