UAE's Tawazun Economic Council and Boeing have signed an agreement to expand the country's role in the Aerospace industry by enabling advanced materials manufacturing.
The agreement, signed at the Dubai Airshow, is the latest project under an umbrella of manufacturing initiatives enabled by Tawazun Economic Council, said a Wam news agency report.
The fruitful collaboration between Tawazun and Boeing has enabled the creation of an aerospace qualified surface treatment facility, precision aerospace-machined parts manufacture, advanced components for 777 and 787 aircraft and advanced raw material production for the 777X programme. The series of projects is expected to generate approximately $1.5 billion of economic activity including high value exports.
Tawazun is a strategic investment firm focused on the long-term development of Abu Dhabi’s industrial manufacturing and technology capabilities and knowledge- transfer with a specific focus on the defense sector.
"Historical partnerships with Boeing have yielded a number of significant projects across various sectors in the UAE. This agreement marks the importance and global nature of the aerospace industry," said Matar Ali Al Romaithi, Chief Industrial Officer of the Industrial Development Unit of Tawazun Economic Council.
"Boeing and UAE stakeholders have collaborated since 2009 to advance the country’s aviation industry and capabilities, in support of Abu Dhabi’s goals to become a global aerospace hub and diversify its economy," said Michael Woodward, Director, International Alliance, Boeing.
The joint cooperation for establishing facilities in the UAE, will contribute significantly to the country’s growing exports, accelerate the technology transfer, create high skilled jobs and enhance the capacity of local industry, the report said.