UAE-based defence giant Edge has announced a tri-party 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 $1 billion worth of investments, it said in a statement.
Faisal Al Bannai, CEO and managing director of Edge, 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.
Faisal Al Bannai, CEO and managing director of Edge
“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 Husev, director general of UkrObornProm, 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.”
UkrOboronProm 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.
Edge ranks among the top 25 military suppliers in the world
Ukrspecexport 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.
Edge ranks among the top 25 military suppliers in the world.
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