Serbia exports USD 300mn worth of arms

The Serbian defense industry in 2009 exported about USD 300mn worth of weapons, Defense Minister Dragan Šutanovac said.

Izvor: FoNet

Friday, 25.12.2009.

11:42

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The Serbian defense industry in 2009 exported about USD 300mn worth of weapons, Defense Minister Dragan Sutanovac said. He added that the military industry has also signed new contracts worth USD 500mn. Serbia exports USD 300mn worth of arms Sutanovac added that this industry will have to buy new equipment soon, employ new people and increase capacities, “because there are large contracts for the export of weapons and military equipment.” “Thanks to our international work, we have several large contracts for the export of weapons and military equipment, and that is something that brings us back to 1988-1989, when the former Yugoslavia exported a lot and was very well-known aboard,” Sutanovac said. He said that the weapons made in Serbia have quality, markets, and a good price, adding that he is “convinced that it will be one of the more important segments of development for Serbia in the coming years.” Sutanovac added that it is “very important to think on time about whether we will be in recession or continue the development trend.” The defense minister received an award from the Serbian Chamber of Commerce (PKS) for support and special personal contribution to development and rise in the defense industry exports. “The contracted jobs secured that the defense industry became once again a pillar of development of the Serbian economy. The minister actively promoted the potential of the defense industry abroad, which enabled great results in new markets, especially in Iraq, Algeria and Egypt,” the Chamber of Commerce stated. This institution also said that in the time of the economic crisis, "Sutanovac worked on necessary conditions for restructuring and modernizing defense industry companies, securing financial support, and enabling business consolidation, developing new products and technological restoration".

Serbia exports USD 300mn worth of arms

Šutanovac added that this industry will have to buy new equipment soon, employ new people and increase capacities, “because there are large contracts for the export of weapons and military equipment.”

“Thanks to our international work, we have several large contracts for the export of weapons and military equipment, and that is something that brings us back to 1988-1989, when the former Yugoslavia exported a lot and was very well-known aboard,” Šutanovac said.

He said that the weapons made in Serbia have quality, markets, and a good price, adding that he is “convinced that it will be one of the more important segments of development for Serbia in the coming years.”

Šutanovac added that it is “very important to think on time about whether we will be in recession or continue the development trend.”

The defense minister received an award from the Serbian Chamber of Commerce (PKS) for support and special personal contribution to development and rise in the defense industry exports.

“The contracted jobs secured that the defense industry became once again a pillar of development of the Serbian economy. The minister actively promoted the potential of the defense industry abroad, which enabled great results in new markets, especially in Iraq, Algeria and Egypt,” the Chamber of Commerce stated.

This institution also said that in the time of the economic crisis, "Šutanovac worked on necessary conditions for restructuring and modernizing defense industry companies, securing financial support, and enabling business consolidation, developing new products and technological restoration".

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