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Wednesday, April 12, 2017

Russia Inks $9 Billion in Arms Agreements in 2016

The Director of Russia's Federal Service for Military and Technical Cooperation, Dmitry Shugayev, stated on April 11, 2017 that Russia had reached military export and cooperation contracts totaling over $9 billion in 2016.

Tass News Agency quoted Shugayev as saying, "Russian contractors engaged in military and technical cooperation signed contracts worth over $9 billion in 2016."

He was speaking at the Foreign Ministry's Diplomatic Academy on the subject of Russia's military and technical cooperation with other countries.

Throughout the year, Russia held 55 sessions of intergovernmental commissions, committees, and working groups on military cooperation matters.

Shugayev emphasized post-sale services and the establishment of maintenance centers as important areas of cooperation with foreign customers. He stated, "Today this is an essential requirement set to the producers and suppliers of military products."

Regarding the volume of agreements, Shugayev said, "In 2016, 18 international agreements in the sphere of military and technical cooperation were signed and the deliveries of Russian military products to 52 countries were made while the number of our partners in the field of military and technical cooperation exceeds a hundred of states."

Asia was the number one destination for Russia military products -- 53 percent of sales -- with Africa in second place at 42 percent. North and South America as well as Europe had a combined share of five percent.

Russia estimates exporting around $15 billion worth of hardware in 2016, similar to previous years' totals.

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