Strategic Cooperation Agreement Valued at US$1 Billion Military and Technical Cooperation Agreement Will Enable Exchange and Development of Advanced Technologies
EDGE, the UAE’s advanced technology group for defence and beyond, today announced it signed a tri-party strategic cooperation agreement with Ukrainian state-owned defence conglomerate UkrOboronProm, and Ukrspecexport, a Ukrainian state-owned arms trading company. The agreement will enable the three entities to exchange and develop advanced technologies that could lead to over US$1 billion worth of investments.
His Excellency Faisal Al Bannai, CEO and Managing Director of EDGE, Yuriy Husev, Director General of UkrObornProm, and Vadym Nozdria, Director General of Ukrspecexport, inked the agreement in the presence of representatives from all parties. The signing took place at Emirates Palace, Abu Dhabi, United Arab Emirates.
His Excellency Faisal Al Bannai said: “EDGE places a strong emphasis on joint development and collaboration. Signing this tri-party agreement demonstrates our intent to cooperate with leading international companies within the defence industry. We are excited about the opportunities for the UAE and Ukraine to collaborate, exchange, and mutually benefit from one another’s military and technical capabilities.”
Yuriy Husey said: “This strategic agreement is a result of our cooperation with EDGE Group, and is a significant step in joint development and cooperation between our sides. It is very symbolic that this agreement was signed during the official visit of the President of Ukraine to the UAE.”
Meanwhile, Vadym Nozdria, commented: “Ukrspecexport is proud to be part of this strategic agreement with EDGE Group. We are offering the best technologies available in Ukraine as well as ambitious joint development programs.”
UkrOboronProm is a Ukraine state-owned defence conglomerate which was established in 2010 for the management of the enterprises of the military-industrial complex. Today, it unites more than 100 companies in five major defence industry sectors, particularly in armament and military equipment development and manufacture, scientific research and export-import operations.
Ukrspecexport is a Ukraine state-owned company which specialises in armament, ammunition, military and special equipment, spare parts and components, explosives, as well as other products which can be used for the development and manufacture of armament, military and special equipment. It carries out repairs, maintenance and upgrades of armament and military equipment of foreign customers, and also exports up-to-date technologies.
EDGE is an advanced technology group for defence and beyond that ranks among the top 25 military suppliers in the world.