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.



EU to Keep US Trade Countermeasures on Hold Until August

European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
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EU to Keep US Trade Countermeasures on Hold Until August

European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS
European Commission President Ursula von der Leyen speaks during a joint press conference with Indonesian President Prabowo Subianto (not pictured) at the European Commission in Brussels, Belgium, 13 July 2025. EPA/OLIVIER MATTHYS

The EU will extend its suspension of countermeasures to US tariffs until early August as it aims for a negotiated solution on trade with the United States, European Commission President Ursula von der Leyen said on Sunday.

US President Donald Trump escalated his global trade war on Saturday and threatened to impose a 30% tariff on imports from the European Union from Aug. 1, separate from sector-specific duties, despite months of intense talks.

Announcing the extension of the halt on retaliatory measures, von der Leyen told reporters the bloc would "continue to prepare further countermeasures so we are fully prepared."

A first package of countermeasures to US tariffs on steel and aluminium that would hit 21 billion euros ($24.6 billion) in US goods was suspended in April for 90 days to allow time for negotiations.

The suspension had been due to expire on Monday.

A second package has been in the works since May and would target 72 billion euros of US goods, but these measures have not yet been made public and the final list requires approval by member states.

Von der Leyen added that use of the EU's Anti-Coercion Instrument was not yet on the table.

"The (anti-coercion) instrument is created for extraordinary situations, we are not there yet," Reuters quoted her as saying.

The instrument allows the bloc to retaliate against third countries that put economic pressure on EU members to change their policies.

Possible retaliatory steps could include restricting EU market access to goods and services, and other economic measures related to areas including foreign direct investment, financial markets and export controls.