OREANDA-NEWS. The Russian state corporation Rostec and the company Tavazun, founded by the founded by the government of United Arab Emirates to invest in industry, have signed an agreement of mutual understanding that will initiate technological cooperation between the two countries, particularly through joint projects in the field of defense. Previously, the two countries had only cooperated in civilian initiatives.

“Rostec has already implemented a number of projects in the UAE. Russian Helicopters has created a joint venture for maintaining and servicing civilian helicopters in the Middle East. A regional distribution center of KAMAZ also operates in the UAE,” said Sergey Chemezov. “Now as opportunities for new collaboration are opening up, we turn to technological cooperation, which is beneficial to both sides. This will enable our partners to use the latest technologies of Rostec enterprises, particularly those of Tecmash. In turn, Rostec has the opportunity to enter a major new market and expand its presence in this strategically important region.”

A committee made up of representatives from both Rostec and Tavazun will make decisions about joint projects. Currently a number of projects are under consideration, chief among them being the development and production of different caliber ammunition with the help of the Rostec subsidiary Tecmash.

Rostec general director Sergei Chemezov and Crown Prince of Abu Dhabi Sheikh Mohammed bin Zayed Al Nahyan discussed the opportunities for cooperation between the Russian corporation and Tavazun at the IDEX-2013 international exhibition in February 2013. During further meetings, Rostec and Tavazun explored possibilities for organizing ammunition production in the UAE.

In September 2013 a Rostec delegation visited the UAE to get acquainted with Tavazun’s production facilities and conduct further negotiations for future areas of cooperation. Representatives of Tavazun have since visited several Rostec enterprises.

THE STATE CORPORATION RUSSIAN TECHNOLOGIES (ROSTEC) was founded in 2007 to promote the development, production, and export of high-tech industrial products for civil and military purposes. It includes 663 domestic enterprises in 8 defense and 5 civilian holding companies. Subsidiaries of Rostec can be found in 60 regions of the Russian Federation and deliver products to more than 70 countries. In 2012 Rostec earned 931 billion rubles of revenue, with a net profit of 38.5 billion rubles. Its total tax payments exceeded 109 billion rubles.

TAVAZUN HOLDING was founded in 2007 by the government the United Arab Emirates in order to bring modern technological enterprises to the country. It carries out research, development, and production in a number of areas, including defense, producing ammunition, as well as aircraft, space, automotive, and metal processing products. Tavazun is well known as an investor not just in the UAE, but also on the global stage through its cooperation with leading international companies.