Brazil, India, China boost Russian military deals
March 24, 2014, 12:03 pm

Russia is set to float a joint venture with Brazil to co-produce Sukhoi T-50 fifth-generation fighter jets [AP]

The volume of Russia’s arms exports this year has topped the $2 billion mark, with outstanding weapons orders standing at $47 billion, said Alexander Fomin, the head of the Federal Service for Military-Technical Cooperation on Monday.

“As of today, Russia has supplied military products worth $2 billion to its foreign customers,” said Fomin.

Last year, Russia exported $15.7 billion worth of weaponry, up $2.5 billion from 2011, with plans to increase annual arms sales to $50 billion by 2020 in a race for the top spot.

Russian shipments accounted for 27 per cent of global arms exports last year, just behind the United States at 29 per cent, according to a report published last week by the Stockholm International Peace Research Institute (SIPRI). The Swedish think-tank also said India is the biggest arms buyer in the world, superseding China in 2010.

Among the major importers of Russian weapons and military equipment are India, China, Vietnam, Indonesia, Venezuela, Algeria and Malaysia.

Fomin, who was speaking ahead of a defense exhibition in Chile, said that Russia is prepared to negotiate contracts on a wide range of military and civilian products with its South American partners, including Beriev Be-200 amphibious aircraft, Irkut MS-21 mid-range jet airliners and regional Sukhoi Superjet-100s.

According to Fomin, Russia would also propose licensed production of technologies with Chile, a traditional buyer of US-made weapons.

“We are offering our Chilean partners a localization of production in their country, which is certainly a very beneficial aspect of our proposed contracts.”

Source: Agencies