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IDEX, NAVDEX Witness 11 Deals Worth $1.2 Bn

Saudi pavilion at the International Defense Exhibition (IDEX) in Abu Dhabi (Asharq Al-Awsat)
Saudi pavilion at the International Defense Exhibition (IDEX) in Abu Dhabi (Asharq Al-Awsat)
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IDEX, NAVDEX Witness 11 Deals Worth $1.2 Bn

Saudi pavilion at the International Defense Exhibition (IDEX) in Abu Dhabi (Asharq Al-Awsat)
Saudi pavilion at the International Defense Exhibition (IDEX) in Abu Dhabi (Asharq Al-Awsat)

UAE's Tawazun Council signed 11 deals worth $1.2 billion with local and international companies at the International Defense Exhibition (IDEX) and the Naval Defense Exhibition (NAVDEX) 2023.

Tawazun is an independent government entity that works closely with the Ministry of Defense and security agencies to maximize value through acquisition systems.

Spokesman of Tawazun Zayed al-Meraikhi said the Council signed a contract worth $582 million with Halcon, a subsidiary of Edge Group, to procure Thunder P3 system and a $21.2 million contract with Maplin Marine Systems & Services to provide vessels' technical support services.

It also signed a $12.2 million contract with Mohamed Abdulrahman Al-Bahar LLC to provide technical support services on caterpillar vehicles.

Another spokesman for the Council, Majed al-Jaberi, said that five international deals were signed during the first day of the two exhibitions, amounting to $598 million, including contracts with Indonesian, French, US, and German companies.

For his part, Saeed Al Mansoori, CEO of Capital Events, a subsidiary of ADNEC Group, said that this year's edition was the biggest since the inception of the exhibition three decades ago.

Mansoori indicated that 65 countries are participating in this year's edition, a ten percent over the previous years, with 41 national pavilions, with a growth rate of 17 percent compared to 2021.

The two exhibitions included the participation of more than 367 official international delegations, including nine new countries participating for the first time.

Meanwhile, Saudi General Authority for Military Industries (GAMI) launched the Kingdom's pavilion at IDEX in Abu Dhabi.

GAMI Governor Ahmed al-Ohali inaugurated the pavilion, which is expected to increase the authority's outreach.

Ohali confirmed that the Saudi participation is witnessing a qualitative involvement of partners in the sector, such as the Ministry of Interior, the Ministry of Investment, the World Defense Show, and various prominent companies and institutions operating in the military and security industries.

He explained that this participation represents a qualitative platform to develop the industry in the sector by creating partnerships, exchanging knowledge and expertise, and transferring technology.

The official said the defense and national security sectors are vital for Saudi Arabia, adding that the Kingdom aims to localize various industries that could boost the national economy.

Ohali added that the Kingdom's participation in the exhibition aims to support investors, facilitate their entry into the Saudi military and security industries market, and introduce promising investment opportunities.

The military industries sector system seeks to achieve the strategic goal of localizing more than 50 percent of the defense expenditure by 2030.

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Peru’s FM: Negotiations Underway with Saudi Arabia to Sign Bilateral Agreements by Year-End

Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)
Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)
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Peru’s FM: Negotiations Underway with Saudi Arabia to Sign Bilateral Agreements by Year-End

Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)
Peru’s Foreign Minister, Elmer Schialer Salcedo (Asharq Al-Awsat)

Peru’s Foreign Minister, Elmer Schialer Salcedo, revealed during his official visit to Riyadh that negotiations are progressing with Saudi Arabia to conclude several bilateral agreements before the end of 2025.

The agreements include among others a general cooperation accord and a civil aviation agreement.

In an interview with Asharq Al-Awsat, Salcedo noted that his visit is part of a broader Gulf tour aimed at paving the way for a multilateral agreement with the Gulf Cooperation Council (GCC).

The Peruvian foreign minister emphasized that while relations between Peru and Saudi Arabia are strong on political, diplomatic, cultural, and tourism fronts, there is significant untapped potential in the commercial and economic realms. He expressed his intent to further deepen these ties by encouraging investment and trade between the public and private sectors of both countries.

The year 2026 will mark the 40th anniversary of the establishment of diplomatic relations between Peru and Saudi Arabia, a milestone the Peruvian minister said would underscore the importance of reinforcing the partnership.

Peru and Saudi Arabia maintain close coordination in political and diplomatic matters, as well as bilateral business, tourism, and cultural engagement.

Salcedo told Asharq Al-Awsat that he hopes to expand this cooperation into energy, investment, mining, technology, and digital governance. He highlighted sectors such as oil, gas, renewable energy, telecommunications, and water desalination as areas with strong investment potential. He also reaffirmed Peru’s commitment to providing equal treatment to foreign investors, a message aimed at encouraging greater Saudi involvement in the Peruvian economy.

On the private sector level, Salcedo stressed the need for direct links between Peruvian and Saudi businesses, noting that many Peruvian products currently reach the Saudi market through third countries. Eliminating intermediaries would reduce costs and create more competitive opportunities for producers and consumers in both countries.

The minister also commended Saudi Arabia’s recent reforms to its investment laws, particularly the provisions allowing full foreign ownership, and said they present important opportunities for Peruvian businesses.

Highlighting growing economic ties, Salcedo pointed to Saudi Aramco’s recent expansion into South America.

In March 2025, Aramco acquired Primax, a major fuel distributor operating in Peru, Colombia, and Ecuador, in a deal valued at $3.5 billion.

He also noted Aramco’s increased indirect stake of 17.2% in the Peru LNG project, further integrating the company into South America’s liquefied natural gas market.

Salcedo pointed to the strategic role of Peru’s newly built Chancay Port, which he said would revolutionize logistics between South America and Asia. With automated facilities and a projected total investment of $3.6 billion across three phases, the port is expected to enhance Peru’s connectivity with Asian markets and improve regional trade efficiency.

Looking ahead, the official said Peru could contribute significantly to Saudi Arabia’s Vision 2030 goals. He highlighted his country’s rich mineral resources, including copper, lithium, and rare earth elements, as key assets for Saudi investment.