France and the United Arab Emirates announced today, Friday, that they have signed an agreement for the supply of 80 Rafale fighters manufactured by the French company Dassault Aviation.
Shares of Dassault Aviation rose 9% with the announcement of the Rafale fighter agreement with the UAE. This is the largest foreign order for French fighter jets since they entered in service in 2004.
Abu Dhabi has also signed an agreement for the purchase of 12 Caracal helicopters.
The aircraft will be delivered starting in 2027 under the “F4” program, a project in development phase worth approximately two billion euros. The launch is scheduled for 2024 and Paris presents it as a “technological, industrial and strategic leap”.
The UAE ranked fifth among the most important customers of the French defense industry in the period 2011-2020, with purchase orders for 4.7 billion euros, according to a report submitted to Parliament on French arms exports .
The two countries also announced a new agreement worth € 165 million with the Louvre Museum, in base on which he will lend four works of art.
Abu Dhabi’s sovereign wealth fund Mubadala said today it has agreed a € 4 billion ($ 4.52 billion) contract with French public investment bank BPI France.
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