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Tue 19 Jun 2007 12:23 PM

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Dubai in 'long term' ties with Boeing

Agreement comes on same day as the US aviation giant signs similar deal with Abu Dhabi.

Dubai Aerospace Enterprise (DAE) has teamed up with US aviation giant Boeing to further develop the emirate’s aerospace industry.

The two companies signed a memorandum of understanding (MoU) on Monday to collaborate in the areas of aircraft services, customer education, financing, and maintenance, repair and overhaul (MRO).

DAE said the agreement was the precursor to a long-term strategic partnership aimed at establishing Dubai as a global force in the global aerospace industry.

“Our capabilities on the global stage are being increasingly recognised in the industry and the opportunity to work with one of the world’s leading aircraft manufacturers represents an ideal collaboration for DAE,” said Bob Johnson, DAE chief executive.

The tie-up comes on the same day as Boeing agreed a similar MoU with Mubadala, the investment vehicle of the Abu Dhabi government, to advance the emirate’s global aerospace ambitions.

Mubadala will reportedly invest at least $5 billion in the venture, which will focus on the production of advanced aerospace components and raw materials, as well as the creation of an aerospace research and development (R&D) centre.

Aviation is a key industry for the UAE’s economy and the country now has two well-established carriers and is in the process of building the world’s biggest airport in Jebel Ali, Dubai.

However, the UAE is not yet seen as a global force in the manufacture of aircraft components and technology, and the two agreements with Boeing are a clear sign of the UAE’s intentions to establish itself in this space.

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