Russian Arms Producers Sign Export Contracts for $7.5Bln

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In 2014, Russia’s arms producers have concluded export contracts worth $7.5 billion. The contract portfolio remains constantly at the level of $50 billion. This statement was made by Russian President Vladimir Putin at a meeting of the Military-Technical Cooperation Commission.

“This year, Russian arms manufacturers have signed new export contracts amounting to $7.5 billion. As a result, the overall contract portfolio remains at the level of $50 billion,” Mr. Putin said, noting that it was necessary to establish contacts with new buyers of Russian armaments and offer new cooperation formats, including flexible settlement schemes and loans.

The President pointed out that Russia had developed an import substitution program for the defence sector to build alternative communication in the industrial and technological cooperation.

“We have approved the work plan. It is quite acceptable by terms, and financial expenditures are not as big as they seemed initially,” Mr. Putin concluded.

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Posted on November 6, 2014, in Defence Industry News. Bookmark the permalink. Leave a comment.

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