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Andrew Mair who is the Chief Exec <Bof Midlands Aerospace Alliance
The money, to be invested over a seven-year period, will create a UK Aerospace Technology Institute.
Farahi lauded the country's growing trend in aerospace fields, and said that the government has rendered great support for the Iranian aerospace industry.
Many nations have been focusing on their aerospace industry in recent years, IDB said, with such sectors in Asia, Malaysia and South Korea gaining strong governmental support.
It added that as part of the deal, GCAA is committed to working with Mubadala Aerospace to ensure that all of its group companies meet the required regulations and attain the necessary certifications to guarantee the highest standards of international safety and airworthiness.
There will be two days of high level debate-led discussions on aerospace, aviation and space, followed by two days of field trips to aerospace and aviation facilities.
Boeing is already a shareholder in MATIS, a Moroccan company specializing in aerospace wiring and harness products that will celebrate its 10th anniversary of operation later this year.
The event will be sponsored by a major national initiative, the Aerospace and Defence Knowledge Transfer Network (KTN).
"Visionary commercial aviation companies looking beyond the challenges of current economic downturn are positioning themselves for the long term, with the dynamic Asian markets including China, India, Japan, Korea, Singapore, Taiwan and Vietnam offering the most exciting opportunities," said Richard Thiele, Global Head of Sales for Reed Exhibitions' Aerospace & Aviation Group.
The aerospace engine in Arkansas was worth about $1 billion in 2006, according to figures quoted by Bob East, the CEO of general contracting firm East-Harding Inc.
Moving ahead, global trends indicate that comprehensive asset management services will be a key focus area for aerospace MRO companies to create new markets and to keep and grow existing ones.
The American aerospace industry's orders, shipments and backlogs set another record this year.
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