Tawazun Economic Council and Saudi Arabia’s General Authority for Military Industries (GAMI) today (February 22) signed a MoU on the sidelines of the ongoing International Defense Exhibition and Conference (IDEX 2021) in Abu Dhabi.

 

The agreement aims to build strategic relations of cooperation, partnership and integration between the two sides and to help enhance the capabilities of the defence industries sector, explore potentials for joint projects and identify areas of cooperation in defence industry-related Research & Development (R&D).

 

The MoU stems from the deep-rooted relations between the two fraternal countries, said Jassem Mohammed Bu Ataba AlZaabi, Chairman of the Abu Dhabi Department of Finance and Secretary General of Tawazun’s Board of Directors, after signing the deal with Ahmed bin Abdulazis Al-Ohali, Governor of GAMI in the presence of Tawazun CEO Tareq Abdulraheem Al Hosani and other officials.

 

"This agreement for joint cooperation sets the course for a new era of joint cooperation between the two brotherly countries in all domains, particularly in R&D, technology transfer, FDIs and joint defense industries," noted Al Zaabi.

 

He pointed out that drawing from its vast experience and strong relations with ecosystem players, as well as its qualified and highly skilled Emirati talents, Tawazun is positioned to play a pivotal role in enabling the defense industry and boosting its contribution to the UAE’s sustainable development drive.

 

Lauding the Tawazun Economic Program as one of the region’s most successful systems, Al Zaabi expressed his willingness to exchange expertise and best practices with the Saudi counterpart.

 

On the Tawazun tieup, Al Ohali said this comes in line with the strong ties and continuous cooperation between the UAE and Saudi Arabia, emanating from the two countries’ shared vision, goals and aspirations for economic integration and for a brighter future.

 

"Under the MoU, we will work to accelerate joint action for implementation of the Tawazun Economic Programs. The GCC region has huge potentials to build sustainable capabilities in defense and military industries, building on the long-standing and mutually beneficial relations with the world’s leading industry and technology players. Our objective is to transfer technology and know-how and to build an integrated base for defense industries in the Gulf," he stated.