UkrOboronProm signs agreements for over USD 1 Billion in UAE
The agreements were signed during an official visit of President of Ukraine Volodymyr Zelensky to the United Arab Emirates, Ukrinform reported regarding the head of the state’s press service.
The agreement with EDGE on military and technical cooperation will allow the exchange and development of advanced technologies.
“EDGE places a strong emphasis on joint development and cooperation. The signing of this trilateral agreement demonstrates our intention to cooperate with leading international companies within the defence industry. We are excited about the opportunities that open up for the UAE and Ukraine as a result of cooperation, exchange and mutual benefit from the military and technical potential of the two countries,” CEO and Managing Director of EDGE Group His Excellency Faisal Al Bannai said.
The agreement was signed between the state concern Ukroboronprom, the state company Ukrspetsexport and the defence industry holding EDGE Group to expand military-technical cooperation.
The signing took place in Abu Dhabi, with the participation of Ukroboronprom CEO Yuri Gusev, Ukrspetsexport CEO Vadim Nozdri and EDGE Group Managing Director Faisal Al Bannaya. The agreement will facilitate the exchange and development of advanced technologies by the three parties, with an investment prospect of more than $ 1 billion.
"This strategic agreement is the result of our cooperation with EDGE Group and a significant step in joint development and cooperation between the parties. It is very symbolic that this Agreement was signed today during the official visit of the President of Ukraine to the United Arab Emirates and approved by His Majesty Sheikh Mohammed bin Zayed Al Nahyan for rapid implementation, "said the head of the Concern.
In turn, Faisal Al Bannay stressed that EDGE has high hopes for further partnership with the Ukrainian side.
"The signing of this tripartite agreement demonstrates our intention to cooperate with leading international companies in the defence industry. We are delighted with the opportunities that open up for the UAE and Ukraine to cooperate, exchange and benefit from the military and technical capabilities of the two countries," he said.
EDGE Group is the UAE's leading military-industrial innovation holding. It unites more than 25 enterprises, 13 thousand specialists in five main clusters: Platforms and Systems, Missiles and Weapons, Cyber Defense, Electronic Combat and Intelligence and Support of Military Missions.