Qatar signs $8.95 billion arms deals

Image
IANS Doha
Last Updated : Apr 01 2016 | 8:48 AM IST

Qatar signed 19 major arms deals worth $8.95 billion at the Doha International Maritime Defence Exhibition and Conference (DIMDEX 2016), the media reported on Friday.

The transactions included eight Memoranda of Understanding (MoU) inked on Thursday to supply Qatari Armed Forces with important maritime equipment valued at 1.29 billion Qatari riyals (QR), Xinhua news agency quoted authorities as saying.

They also included consolidation of a deal of 24 French Dassault Rafale fighters worth on Tuesday, as well as 10 MoU signed on Wednesday with international companies for arming and developing the Armed Forces.

Dimdex 2016 has attracted about 9,000 visitors and official VIP delegations from over 60 participating countries.

During the three days event which concluded on Thursday, international and local exhibitors took full advantage of the opportunity to present the latest maritime defence technology to buyers, build business connections, discuss the latest trends in the industry and secure deals.

The Qatari Armed forces inked 40 deals worth almost $23 billion during the previous edition of DIMDEX held in 2014.

*Subscribe to Business Standard digital and get complimentary access to The New York Times

Smart Quarterly

₹900

3 Months

₹300/Month

SAVE 25%

Smart Essential

₹2,700

1 Year

₹225/Month

SAVE 46%
*Complimentary New York Times access for the 2nd year will be given after 12 months

Super Saver

₹3,900

2 Years

₹162/Month

Subscribe

Renews automatically, cancel anytime

Here’s what’s included in our digital subscription plans

Exclusive premium stories online

  • Over 30 premium stories daily, handpicked by our editors

Complimentary Access to The New York Times

  • News, Games, Cooking, Audio, Wirecutter & The Athletic

Business Standard Epaper

  • Digital replica of our daily newspaper — with options to read, save, and share

Curated Newsletters

  • Insights on markets, finance, politics, tech, and more delivered to your inbox

Market Analysis & Investment Insights

  • In-depth market analysis & insights with access to The Smart Investor

Archives

  • Repository of articles and publications dating back to 1997

Ad-free Reading

  • Uninterrupted reading experience with no advertisements

Seamless Access Across All Devices

  • Access Business Standard across devices — mobile, tablet, or PC, via web or app

More From This Section

First Published: Apr 01 2016 | 8:36 AM IST

Next Story