Investment Memorandum of Understanding between The Government of the United Arab Emirates and The Government of Australia on Investment Cooperation in Infrastructure Development

The Government of the United Arab Emirates, represented by the Ministry of Investment ("the UAE"), and the Government of Australia, represented by the Department of Foreign Affairs and Trade ("Australia"), hereinafter referred to jointly as the "Participants" and each as a "Participant,"

Desiring to strengthen the friendly relations that exist between their respective countries and to promote the expansion of bilateral cooperation between the Participants based on the principles of equality, mutual benefit, and full respect of sovereignty;

Noting that strengthening the investment cooperation between the Participants will benefit the advancement of bilateral relations and cooperation between the two countries; and

Acknowledging that the arrangements on investment cooperation between the two countries will facilitate the mutual flow of capital and talent to ensure the sustainability of growth and prosperity for both countries,

Have reached the following understanding:

Paragraph (1) Purpose

This Investment Memorandum ("Memorandum") provides a framework for investment cooperation to support both countries' objectives in infrastructure development.

Paragraph (2) Scope of Cooperation

1. The Participants will facilitate collaboration between relevant government agencies, sub-national governments, independent regulatory authorities, private sector enterprises, Public – Private Partnership project proponents, including small and medium-sized enterprises (SMEs) and stakeholders across both countries to galvanise and promote investment in the infrastructure sector.
2. Consistent with Paragraph 6 (Legal Status), this Memorandum does not apply to, or have any legal or operational effect on, either Participants' foreign investment frameworks.

Paragraph (3) Areas of Cooperation

1. Participants will look to facilitate and drive investment in areas that:
   1. support the development of infrastructure projects that drive productivity, boost economic growth, increase resilience to natural hazards and environmental impacts, create local job opportunities, enhance economic resilience and security, and support the transition to net zero emissions: including:
      1. transport projects, including road, rail, maritime ports and airports;
      2. social infrastructure including community facilities, social housing, research, medical and healthcare facilities;
      3. advanced technologies and manufacturing such as 3D printing, semi-conductor fabrication, nanotechnology production; and
      4. sustainable tourism infrastructure such as delivery against major nation building projects.
   2. boost the capabilities, knowledge and skills required in local workforces, in collaboration with education institutions, for supporting infrastructure development across various sectors;
   3. encourage the use of the participants technical expertise and technologies in the development of infrastructure projects for mutual benefit;
   4. support the use of funding sources, such as sovereign investment funds and Government-linked entities, for infrastructure projects of mutual interest; and
   5. support quality, sustainable and transparent investment collaboration through a range of mutually beneficial models – including private-public partnerships.
2. Other areas of cooperation may be identified and undertaken by mutual written consent of the Participants.

Paragraph (4) Implementation Mechanism

1. The Participants will, within 30 days of the date of this Memorandum coming into effect, each nominate entities and/or individuals designated to oversee the implementation of this Memorandum or certain aspects thereof and advise each other in writing of those contact points.
2. Contact Points may set up meetings and jointly decide on a work plan to take forward the objectives of this MOU.

Paragraph (5) Confidentiality

The Participants will maintain the confidentiality of the information and contents exchanged between the Participants in relation to this Memorandum and will not use any of the confidential information and contents for any purpose other than for the purpose of which such confidential information and contents have been given.

Paragraph (6) Legal Status

This Memorandum represents the understanding reached between the Participants and is an expression of the Participants' good faith intent to engage in the collaboration described herein. This Memorandum does not create any legally binding rights or obligations.

Paragraph (7) Dispute Resolution

Any dispute concerning the interpretation and/or implementation of this Memorandum will be resolved amicably by negotiations or consultations between the Participants. Disputes will not be referred to any dispute resolution body or tribunal for settlement.

Paragraph (8) Intellectual Property Rights

1. The Participants will observe and respect the intellectual property rights of each Participant in the implementation of this Memorandum.
2. All intellectual property rights in respect of any research, products and/or services developed jointly by the Participants pursuant to this Memorandum will be determined on a case-by-case basis in accordance with the relevant definitive agreements entered into between the relevant Participants.

Paragraph (9) Funding and Resources

In principle, each Participant will bear the costs of its own cooperative activities under this Memorandum, in accordance with its laws and regulations and subject to the availability of resources, unless otherwise jointly decided by the Participants.

Paragraph (10) Notices and Correspondence

Any correspondence or notices under this Memorandum will be in writing, signed by the Participant sending the notice or correspondence, and delivered via email or registered mail, to the other Participant at its addresses set forth herein below or at such other addresses as a Participant may subsequently notify. 
For the UAE:

Abdalla Ahmed Alobeidli, Director of Policies and Investment Legislation 
Address: UAE, Abu Dhabi
Telephone No: +971 50 747 9291 
Email Address: aalobeidli@investuae.gov.ae

For Australia:
Contact Details: The Department of Foreign Affairs and Trade
Address: 10 John McEwen Crescent, Barton ACT 2600
Telephone No: +61 2 6261 1111
Email Address: UAECEPA@dfat.gov.au

Paragraph (11) Participation in Similar Activities

This Memorandum in no way restricts either the Government of Australia or the Government of the United Arab Emirates from participating in similar activities with other public or private organisations, agencies or individual(s).

Paragraph (12) Amendment

This Memorandum may be amended as required from time to time by mutual written consent of both Participants. Such amendments may be signed and dated prior to any changes being made. Any amendments will come into effect on a mutually decided date and will form part of the Memorandum.

Paragraph (13) Coming into effect and Duration

1. This Memorandum will come into effect, and cooperation hereunder will commence, on the date on which it is signed by both Participants.
2. The Memorandum will remain in effect for a period of five (5) years, and will be automatically renewed for a period of five (5) years, unless either of the Participants notify the other Participant in writing of its desire to terminate or not to renew this Memorandum.

Paragraph (14) Termination

1. The Participants may discontinue their participation in this Memorandum in writing by mutual consent at any time.
2. Either Participant may discontinue its participation in this Memorandum by providing at least sixty (60) days advance notice in writing to the other Participant.
3. The expiration or termination of this Memorandum will not affect the validity or duration of any ongoing programs and activities made under this Memorandum, which will be subject to the respective definitive agreements signed between the relevant Participants.

Signatures

SIGNED in duplicate at Canberra, Australia on the 6th day of November 2024 in the Arabic and English languages, both texts having equal validity. In case of any divergence in interpretations, the English text will prevail.

For the Government of the United Arab Emirates
H.E. Dr Thani Bin Ahmed Al Zeyoudi, Minister of State for Foreign Trade

For the Government of Australia
Senator the Hon Don Farrell, Minister for Trade and Tourism