BRUSSELS, 18 Jul. (EUROPEAN PRESS) -

The European Union and Uruguay have signed an energy cooperation agreement on Tuesday to boost the production of hydrogen and renewable energy in the Latin American country within the framework of the EU-CELAC summit to be held this Monday and Tuesday in Brussels.

Those in charge of signing the agreement were the European Commissioner for Energy, Kadri Simson, and the Uruguayan Foreign Minister, Francisco Bustillo, in the presence of the President of the European Commission, Ursula von der Leyen, and the President of Uruguay, Luis Lacalle Pou.

The memorandum, supported by Global Gateway's investment strategy, outlines potential areas of cooperation between the two partners, which include the review and deepening of actions and policies for the promotion of energy efficiency, as well as exchanges on renewable energy policies and hydrogen and its derivatives.

They have also committed to working together to direct investment towards these critical areas, providing potential investors with clarity on their financing both in the European Union and in Uruguay.

This agreement also underlines that investments must comply with relevant environmental legislation related to the marine and land sectors both in the EU and in Uruguay, to ensure that today's climate and biodiversity challenges are addressed in parallel.

In addition, policies promoting energy efficiency, renewable energy, and renewable hydrogen and its derivatives must take due account of the protection, conservation, and restoration of water systems and water-related ecosystems.