Dubai, September 13: Dwindling oil reserves are pushing the UAE to stockpile weapons and double spending on defence as the region embarks on an arms shopping spree, experts have said.
International defence industry analysts, Frost and Sullivan, have released a report which says the UAE will more than double its $4 billion arms expenditure to $9 billion in the next five years.
Experts say sophisticated surveillance equipment, soldier training as well as a fleet of fighter jets, missile defence systems and launchers capable of firing 6kg shells at 120 rounds per minute to fend off under-water attacks, are among the UAE’s planned purchases to protect the country.
The report’s author, Guatam Ganapathy, told 7DAYS that depleting oil reserves are likely driving the UAE and its GCC colleagues to prepare for threats to national security.
He explained: “The GCC countries want to equip themselves to protect their oil resources. With oil tables receding all across the globe and as the demand for oil is expected to catapult in the next decade, the oil resources of the GCC countries becomes a very critical issue when it comes to military spending.”
But Ganapathy said mounting international concern over the political stability of Iran and its ally Syria is also prompting the UAE and its GCC neighbours to build up a multi-billion dollar arsenal of firepower.
“In a nutshell, regional issues and internal security are driving the spending in the Middle East,” he said.
But Middle East political researcher and university lecturer, Dr Larbi Sadiki, questioned the UAE’s weapons spending.
“Does the UAE need such weapons?” he asked. “The UAE has made its stamp as an oasis of peace and trade, the military garb does not suit it.”
In February the UAE struck defence contracts worth over dhs3 billion ($816.7 million) at the IDEX show.
At the time, General Obeid al-Ketbi said US giant Boeing was discussing a dhs373.4 million contract for the provision of spare parts for Chinook helicopters and Lockheed Martin of the US was planning to sell the UAE up to 12 military air transport C-130J jets.
The executive council did not respond to 7DAYS’ requests for comment on the report.
—Agencies