Rosoboronexport signs contracts worth over 20.3 billion rubles with foreign partners at Army 2018 forum
Rosoboronexport, part of the Rostec State Corporation, has signed 15 different contract documents with foreign customers of Russian military equipment and weapons at the Army 2018 International Military Technical Forum in Kubinka, Moscow region.
“The sum of the export contracts signed by Rosoboronexport on the margins of the Army forum has exceeded 20.3 billion rubles. This relates to modern land forces’ military equipment, unmanned aerial vehicles, electronic warfare systems, close combat weapons and much more. The Company’s portfolio has been replenished with firm orders from Asian and African countries, as well as from member states of the Commonwealth of Independent States,” said Alexander Mikheev, Director General of Rosoboronexport.
Several agreements on cooperation between Rosoboronexport and Russian actors in military-technical cooperation were also signed at the forum.
The documents signed at the forum seal the accords reached with foreign partners on export deliveries of final Russian military hardware and its after-sales service, repair and modernization.
In total, Rosoboronexport conducted negotiations and consultations with delegations from 45 countries of the Asia-Pacific region, the Middle East, Africa, Latin America and Europe during the first days of the Army 2018 forum. For them, Rosoboronexport specialists carried out presentations and demonstrations of over 150 pieces of modern Russian weaponry and military equipment exported by the Company. Foreign guests particularly noted the excellent organization of the forum, primarily a comprehensive program of events and live demonstrations of the Russian military hardware’s capabilities.
Despite ongoing anti-Russian propaganda, Rosoboronexport held a series of successful negotiations with delegations from a number of European countries which visited the Army forum.
“Many in the world, including Europe, are fairly outraged by actions of the US, which is trying to prevent other countries from developing military-technical cooperation with Russia. Rosoboronexport is engaged in dialogue with foreign customers at the level of authorities, and the export deals are approved by either presidents or at a high government level in the G2G format. That is, sanctions have the effect of a boomerang: the partners reasonably regard them as interference in the internal affairs of the state. As a result, we are consistently moving away from the US dollar in mutual settlements in favor of national currencies, especially since Rosoboronexport has accumulated a lot of experience of successful cooperation in various foreign economic circumstances,” the head of Rosoboronexport stressed.
Rosoboronexport is the only state-owned arms trade company in the Russian Federation authorized to export the full range of military and dual-purpose products, technologies and services. It is a subsidiary of the Rostec Corporation. Founded on 4 November, 2000, now Rosoboronexport is one of the leading world arms exporters to the international market. Its share in Russia’s military exports exceeds 85 percent. Rosoboronexport cooperates with more than 700 enterprises and organizations in the Russian defence industrial complex. Russia maintains military technical cooperation with more than 100 countries around the world.
Rostec State Corporation is a Russian corporation that was established in 2007 to facilitate the development, production and export of high-tech industrial products designed for civilian and military applications. The Corporation comprises over 700 organizations that are currently part of 11 holding companies operating in the military-industrial complex and 3 holding companies working in civilian industry, as well as 80 directly managed organizations. Rostec’s portfolio includes well-known brands such as AVTOVAZ, KAMAZ, Kalashnikov Concern, Russian Helicopters, VSMPO AVISMA, UralVagonZavod, etc. Rostec companies are located in 60 constituent entities of the Russian Federation and supply products to more than 70 countries. In 2016, the consolidated revenue of Rostec amounted to 1 trillion 266 billion rubles, while the consolidated net income and EBITDA amounted to 88 and 268 billion rubles respectively. In 2016, the average salary in the Corporation was 44,000 rubles. According to Rostec strategy, the main objective of the Corporation is to ensure that Russia has a technological advantage in highly competitive global markets. Rostec’s key objectives include the introduction of a new techno-economic paradigm and the digitalization of the Russian economy.