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Post-Soviet bloc plans to establish joint military holdings

RIA Novosti

13:35 02/07/2010

ZHUKOVSKY, July 2 (RIA Novosti) - The Collective Security Treaty Organization (CSTO) countries plan to develop a system of interstate holding companies for the production of military equipment, the CSTO Deputy Secretary General said.

"The CSTO plans to follow a common military-technical policy... to establish a system of interstate holding companies for the production of military products," Vladimir Semerikov.

He said an agreement on establishing the intergovernmental corporation Razvitiye (Development) was concluded on Thursday.

Head of Federal Service on Military and Technical Cooperation Vladimir Drozhkov said the integration of the military enterprises may include establishing joint enterprises, which would attract workers and resources.