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Barzan Holdings, the strategic investment arm of Qatar’s Ministry of Defense, is set to sign various deals this week, including a preliminary agreement with defence conglomerate EDGE, Barzan's group CEO said on Monday, in its first deal ever with an Emirati company, years after the two countries restored ties.
"We're going to sign various agreements here" with different firms including EDGE, Barzan Group CEO Abdullah Al Khater told Reuters, speaking on the sidelines of the International Defence Exhibition (IDEX) in Abu Dhabi.
"We are planning to sign an MoU with them (EDGE) ... tomorrow during the exhibition," he added, saying the agreement would cover various areas of cooperation such as co-development programs and future opportunities of production.
He gave no further details.
Barzan Holdings was established in 2016. Its products include small- and medium-caliber ammunition, portable weapons and systems to counter unmanned aerial systems or drones.
Last year, it signed an MoU with Saudi Arabian defence firm SAMI in what it dubbed the first such deal between defense companies in the Gulf.
Asked about progress in the preliminary deal with SAMI, Al Khater said that there were ongoing discussions but specific deals had not yet been finalised.
"In the past, the GCC countries relied heavily on imports when it comes to military products and services. So now, I would say the mindset has changed," he said, citing opportunities to collaborate to partly localize production of military equipment and develop the local workforce.
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