UAE defence conglomerate Edge signed an agreement with state-owned Ukrainian military companies Ukroboronprom and Ukrspecexport to exchange and develop advanced technology.
The agreement will result in investments worth more than $1 billion.
The signing took place at Emirates Palace in Abu Dhabi during the official visit of the Ukrainian president.
“Signing this tri-party agreement demonstrates our intent to co-operate with leading international companies within the defence industry,” chief executive and managing director of Edge Faisal Al Bannai said yesterday.
Ukroboronprom, established in 2010, is a Ukrainian state-owned defence conglomerate comprised of more than 100 companies involved in scientific research and the development and manufacture of arms and military equipment.
Ukrspecexport is also state-owned and makes arms and ammunition, military and manufacturing equipment, spare parts and explosives. It also services and repairs weapons and military equipment for foreign buyers.
"We are offering the best technologies available in Ukraine as well as ambitious joint development programmes," said Vadym Nozdria, director general of Ukrspecexport.
Abu Dhabi-based Edge, set up in 2019, is an advanced technology group that ranks among the top 25 military suppliers in the world, according to the Stockholm International Peace Research Institute.
Gulf countries are increasingly producing and procuring military equipment locally, signalling a shift in the way they do business with international defence companies.
Technology transfers and commitments to produce and buy equipment locally have become key factors in determining which companies secure major arms sales orders in the region.
