Recession? Not at Abu Dhabi's arms show - Israel Business, Ynetnews
 
ynetnews
web


   Israel News

Israel News
World News
Israel Opinion
Jewish
Israel Business
Israel Culture
Israel Travel
Regional Economy

United Arab Emirates Photo: AFP
United Arab Emirates Photo: AFP
 
 

Recession? Not at Abu Dhabi's arms show

Drop in revenues from oil does not stop United Arab Emirates country from ordering weapons for billions of dollars. Exhibition's grounds doubled, with some 900 exhibitors from 50 countries taking part in display

Doron Peskin
Published: 03.06.09, 08:29 / Israel Business

The biggest arms show in the Middle East – IDEX 2009 - was held last week in Abu Dhabi. Judging from the agreements signed during the event, which takes place once every two years, signs of the global recession were not evident there.

 

The hosting United Arab Emirates country was the most dominant during the military exhibition, with orders worth close to $4 billion in one day. The UAE air force struck two major deals that day for the purchase of military cargo planes from the Boeing and Lockheed Martin aerospace manufacturers.

 

Big Business
Abu Dhabi to subscribe to Israeli satellite service / Orly Azoulay
United Arab Emirates state said to sign contract with Israel's ImageSat International giving it access to images taken by Eros-B satellite. Deal estimated at $20 million per year
Full story

The UAE army also announced that it would be signing an agreement with a German company for the establishment of a training center for its infantry corps. The deal was estimated at some $125 million.

 

A day before, UAE businessmen struck deals worth some $800 million.


 

Examining goods in Abu Dhabi (Photo: AFP)

 

This year the exhibition grounds were doubled compared to 2007, with the main attraction being the addition of flight paths for fighter jets.

 

At least 900 representatives from some 50 countries took part in the event and presented their merchandise. Russia, for example, presented its advanced assault submarine, which is called "black hole in the ocean".

 

The deals were struck despite the fact that the UAE, like all other Persian Gulf states, is suffering from a sharp decline in its revenues due to the reduced oil prices in the world's markets.

 

The exhibition's spokesman, General Abid alKatabi, rejected estimates that the global crisis would lower the expenditures on military purchases, particularly on the part of the oil states.

 

"This year's IDEX will be bigger than its predecessors," he stated, adding "I do not expect a drop in the volume of deals due to the global crisis."

 

This year's show also focused on security systems and the war on terror. The UAE's Critical National Infrastructural Authority (CNIA) signed a $125 million agreement with a local company for the purchase of fast intervention boats in order to protect Abu Dhabi's oil and fuel fields.

 

Doron Peskin is head of research at Info-Prod Research (Middle East) Ltd.

 

commentcomment   PrintPrint  Send to friendSend to friend   
Tag with Del.icio.us Bookmark to del.icio.us



 
8 Talkbacks for this article    See all talkbacks
Please wait for the talkbacks to load

 

RSS RSS | About | Contact Us | Privacy Policy | Terms of use | Advertise with us | Site Map

Site developed by  YIT Advanced Technology Solutions