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 defense conglomerate EDGE, the Barzan Group CEO said on Monday, in its first deal with an Emirati company in years since the two countries restored ties, reported by Reuters.
Barzan Holdings to sign deal with EDGE
“We are going to sign various deals here” with various firms, including EDGE, Barzan Group CEO Abdullah Al Khater said on the sidelines of the International Defense Exhibition (IDEX) in Abu Dhabi. “We plan to sign a memorandum of understanding with them (EDGE) during the exhibition,” he added, noting that the deal would cover various areas of cooperation such as joint development programs and future manufacturing capabilities. He did not provide further details.
Barzan Holdings was founded in 2016. Its products include small and medium-caliber ammunition, portable weapons and counter-unmanned aerial vehicles, or drones. Last year, it signed a memorandum of understanding with Saudi defense company SAMI, which was described as the first such agreement between defense companies in the Gulf. The defense cooperation comes years after Saudi Arabia and Qatar restored ties.
Progress on previous SAMI deal
In 2017, Saudi Arabia, the UAE, Bahrain and Egypt severed all ties with Qatar over accusations of supporting terrorism and forged closer ties with Iran. Doha rejected the accusations, and the rift was ended with a series of conciliatory steps in 2021. Asked about progress on the previous agreement with SAMI, Al Khater said discussions were ongoing but specific agreements had not yet been finalized.
“In the past, GCC countries relied heavily on imports when it came to military products and services. So now I would say the mindset has changed,” he said, citing opportunities for cooperation to partially localize the production of military equipment and develop local workforces.