Tawazun Economic Council (Tawazun) and Bahrain Defence Force (BDF) recently signed a Memorandum of Understanding (MoU) to boost cooperation in defence industries and to exchange information and expertise on industrial participation and offset programmes.
Present at the signing ceremony were Kamal bin Ahmed Mohammed, Bahraini Minister of Transport and Telecommunications; Matar Salem Al Dhaheri, Under-Secretary of the Ministry of Defence and Tareq Abdulraheem Al Hosani, Chief Executive Officer of Tawazun.
The MoU was signed by Matar Ali Al Romaithi, Chief Economic Development Officer at Tawazun, and Rear Admiral Yusef Ahmed Malallah, Assistant Chief of Staff for Supply and Logistics at the BDF.
Under the MoU, Tawazun and BDF will jointly work to build synergies aligned with the strategic goals of the defence and security industry, and to develop a common mechanism for implementing programmes related to implementation of the industrial participation programmes in the two countries.
The two sides will also cooperate to identify opportunities for joint projects in the supply chain domains, as well as cooperation in Research and Development (R&D) areas. They will intensify their cooperation through the exchange of information and expertise, cross visits and organize industry-focused forums.
Al Romaithi said the MoU paves the way for larger mutually beneficial cooperation in the future, noting, “We will work together to exchange the expertise and the know-how on the implementation of the offset programmes. We proudly welcome the opportunity to share our common practices and culture and with our brothers in BDF to expand their contribution to sustainable economic development in the Kingdom of Bahrain. We are also pleased to benefit from their experience in this field.”
For his part, Rear Admiral Yusef Malallah said: “This MoU is a significant milestone in the history of the Bahraini-Emirati cooperation in defence and security industries and will be followed by further steps in the near future to strengthen the strategic cooperation between the two brotherly countries.”
“We look forward to working with Tawazun and to benefiting from their vast experience, spanning over 29 year, in offset and industrial participation programmes,” he added.
Tawazun Economic Council has enabled the creation of more than 111 companies and investment vehicles within 12 sectors, and now serves as the catalyst for both economic growth and the development of the UAE defence and security industry.
The Council is set to play a key role in the UAE’s industrial strategy and in the drive to promote technology transfer, drive economic value, facilitate ecosystem growth and empower technology and innovation.