The General Authority for Military Industries and the Economic Balance Council in the United Arab Emirates signed, on the sidelines of the "IDEX 2021" exhibition today, a memorandum of understanding in the field of

Military industries, in an effort to enhance cooperation between the two brotherly countries in the sector.

The memorandum aims to build partnership and complementarity relationships between the two parties in order to achieve the strategic objectives related to strengthening and exploiting capabilities related to the military industries sector, identifying joint projects in the field of military industries, discussing a working mechanism to implement these projects, in addition to agreeing on a joint cooperation mechanism in the field of research and development in Military industries sector.

The memorandum of cooperation was signed by the Governor of the General Authority for Military Industries, Eng. Ahmed bin Abdulaziz Al-Ohali, and the Secretary-General of the UAE Economic Balance Council Jassim Muhammad Buatabe Al Zaabi, at the headquarters of the Economic Balance Council pavilion at IDEX 2021, in the presence of the CEO of the Economic Balance Council, Tariq Abdul Rahim Al Hosani. And a number of officials on both sides.

The Governor of the General Authority for Military Industries, Eng. Ahmed Al-Ohali, explained that this cooperation comes as an extension of the bilateral relations between the two countries, and their coherence, cooperation, harmony and continuous coordination based on cooperation and continuous consultation on all issues.

Al-Ohali said, "The memorandum of understanding will work to create accelerators for the success of joint work in implementing the economic balance program on both sides, especially since the countries of the Arab Gulf region have enormous potential and fertile ground to build sustainable military industrial capabilities, and close relations with friendly and allied countries possessing military technologies and capabilities." It enables us to work with it on the basis of mutual interests and common goals that would enhance the opportunities for transferring and indigenizing military technologies, and building a military industrial base in the Arab Gulf states, in a way that guarantees - God willing - the establishment of an industry that keeps pace with the rapid and successive developments in this field.

For his part, Secretary-General of the Economic Balance Council Jassim Muhammad Bu Ataba said: “The signing of the Memorandum of Understanding is within the framework of the strong brotherly and strategic relations between the two brotherly countries that were established by His Highness Sheikh Khalifa bin Zayed Al Nahyan, President of the United Arab Emirates, and his brother, Custodian of the Two Holy Mosques, King Salman bin Abdulaziz Al Saud - may God protect them -.

Al-Zaabi explained that the memorandum establishes a new phase of joint work and constructive cooperation between the two brotherly countries, especially in the fields of research and development, transfer of technology, attracting foreign investments, establishing joint defense projects and other vital areas in the defense and security industries sector, pointing out that the Economic Balance Council has extensive experiences, cadres and competencies. A qualified national citizen that can be employed to empower and develop the defense and security sector and enhance its contributions to the sustainable development process in the United Arab Emirates.