PARIS, 15th June 2014 (WAM) -- Abu Dhabi'sTawazun Economic Council (TEC) on Sunday hosted its Fourth Defense Contractors Council (DCC) meeting in France ahead of its participation in Eurosatory 2014, the world s largest Land and Air-land Defense and Security exhibition.
Since its establishment in 1992, the Tawazun Economic Council has become a center of excellence in the development and fast-track execution of new and diverse commercial projects. The Council aims to align its operations and policies with the vision of the U.A.E.'s leadership by contributing to economic diversification, sustainability and technology transfer.
The Defense Contractors Council was established to facilitate an ongoing open dialogue between Tawazun Economic Council and its partners. This would enable Tawazun Economic Council to continuously review and update its policies to serve its mandate, and support the contractors in being able to seamlessly fulfill their obligations.
Providing an annual forum to share views, highlight areas for improvement and encourage transparency, this year s DCC meeting in Paris included reports on the latest implemented projects, an outline of local companies in defense and aerospace domains and an assessment of new partnership opportunities.
Matar Ali Al Romaithi, the Chief Officer of Industrial Development Unit at Tawazun Economic Council, commented, "Eurosatory is the place where key leaders in the defense industry meet to overlook all new technologies and solutions in the fields of defense and security, and thus this was a perfect opportunity to have our fourth Defense Contractors Council meeting held on exhibitionist margins. The Defense Contractors Council has proven to be a highly successful forum for building stronger relationships between Tawazun Economic Council and its international partners."
Tawazun Economic Council (TEC) is responsible for the Tawazun Economic Program, formerly known as U.A.E. Offset Program, which was established to diversify U.A.E.'s economy and create new ventures in various sectors through partnerships with international defense contractors. Many successful projects were created through the Program especially in the defense and aerospace sectors.
TEC has changed its policy in 2010 to cater for creating industrial capabilities and joint ventures in Defense and Aerospace domain.