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ISDEF to Establish Israeli Pavilion at Abu Dhabi's International Defense Exhibition

Combined logos of IDEX and NAVDEX via WAM
Combined logos of IDEX and NAVDEX via WAM
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ISDEF to Establish Israeli Pavilion at Abu Dhabi's International Defense Exhibition

Combined logos of IDEX and NAVDEX via WAM
Combined logos of IDEX and NAVDEX via WAM

IDEX, the International Defense Exhibition and Conference organized by Abu Dhabi National Exhibition Company, ADNEC, said it signed a strategic agreement with ISDEF, the Israeli Defense, Homeland Security and Cyber Expo to promote Israeli defense, security, and technology companies.

IDEX will take place at the Abu Dhabi National Exhibitions Center in Abu Dhabi from 21st to 25th February 2021.

The addition of the pavilion to the exhibition highlights the continuous growth and development of IDEX and NAVDEX since their launch in the early 1990s.

Since the inception of IDEX and NAVDEX, ADNEC has shown an impressive track record in shaping the regional business tourism landscape for the industry, state news agency WAM reported.

Previously, ISDEF hosted major Israeli companies from the defense and cyber sectors, such as OSG, IWI, NSO Group, Skylock, Elsight, and others, displaying advanced technologies and solutions including cybersecurity, intelligence and Internet of Things, IoT, mobile infrastructure, smart sensors, military and police equipment and training.

The opening of registration for Israeli companies to participate as part of the Israeli pavilion at IDEX is to be officially announced in the next few weeks.

Commenting on the signing of the agreements, Humaid Matar Al Dhaheri, Managing Director and Group CEO of ADNEC, said, "At ADNEC, we are happy to sign this partnership with ISDEF to introduce a new pavilion to IDEX and NAVDEX 2021. We look forward to working with our new partners, who will help us increase the attendance of both delegates and visitors to this leading regional event."

Stacy Dotan, Chief Marketing Officer and member of the Board of Directors of Avnon Group commented, "Following the recently signed historic peace agreement, I believe that there will be some amazing opportunities between the UAE and Israeli companies in the business and security sectors.

Matti Weinberg, CEO of ISDEF, said, "This agreement reflects ISDEF’s professional and forward-thinking approach as a major marketing platform for Israel’s innovative cybersecurity, defense and HLS technologies. This is an important step towards the recognition of leading technologies and exports promotion."

The upcoming edition of IDEX and NAVDEX is expected to cater to more than 1,300 companies specializing in different applications of the defense sector.

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IMF: Middle East Conflict Escalation Could Have Significant Economic Consequences

Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki
Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki
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IMF: Middle East Conflict Escalation Could Have Significant Economic Consequences

Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki
Displaced families, mainly from Syria, gather at Beirut's central Martyrs' Square, where they spent the night fleeing the overnight Israeli strikes in Beirut, Lebanon September 28, 2024. REUTERS/Louisa Gouliamaki

The International Monetary Fund said on Thursday that an escalation of the conflict in the Middle East could have significant economic ramifications for the region and the global economy, but commodity prices remain below the highs of the past year.

IMF spokesperson Julie Kozack told a regular news briefing that the Fund is closely monitoring the situation in southern Lebanon with "grave concern" and offered condolences for the loss of life.

"The potential for further escalation of the conflict heightens risks and uncertainty and could have significant economic ramifications for the region and beyond," Kozack said.

According to Reuters, she said it was too early to predict specific impacts on the global economy, but noted that economies in the region have already suffered greatly, especially in Gaza, where the civilian population "faces dire socioeconomic conditions, a humanitarian crisis and insufficient aid deliveries.

The IMF estimates that Gaza's GDP declined 86% in the first half of 2024, Kozack said, while the West Bank's first-half GDP likely declined 25%, with prospects of a further deterioration.

Israel's GDP contracted by about 20% in the fourth quarter of 2023 after the conflict began, and the country has seen only a partial recovery in the first half of 2024, she added.
The IMF will update its economic projections for all countries and the global economy later in October when the global lender and World Bank hold their fall meetings in Washington.
"In Lebanon, the recent intensification of the conflict is exacerbating the country's already fragile macroeconomic and social situation," Kozack said, referring to Israel's airstrikes on Hezbollah in Lebanon.
"The conflict has inflicted a heavy human toll on the country, and it has damaged physical infrastructure."
The main channels for the conflict to impact the global economy have been through higher commodity prices, including oil and grains, as well as increased shipping costs, as vessels avoid potential missile attacks by Yemen's Houthis on vessels in the Red Sea, Kozack said. But commodity prices are currently lower than their peaks in the past year.
"I just emphasize once again that we're closely monitoring the situation, and this is a situation of great concern and very high uncertainty," she added.
Lebanon in 2022 reached a staff-level agreement with the IMF on a potential loan program, but there has been insufficient progress on required reforms, Kozack said.
"We are prepared to engage with Lebanon on a possible financing program when the situation is appropriate to do so, but it would necessitate that the actions can be taken and decisive policy measures can be taken," Kozack added. "We are currently supporting Lebanon through capacity development assistance and other areas where possible."