Russia Sells $5.6Bln in Arms in First Half of 2014 - Putin
MOSCOW, July 7 (RIA Novosti) – Russian weapons and military hardware sales to foreign countries were $5.6 billion in the first half of 2014, Russian President Vladimir Putin said Monday.
"In the first six months of the current year, the amount of Russian weapons deliveries abroad stood at $5.6 billion – a very impressive and substantial figure," the president said at a meeting of the Commission for Military Technical Cooperation with Foreign Countries.
The portfolio of foreign orders, which was $35 billion at the beginning of this year, has grown to almost $50 billion, Putin said.
'Today, it is important to ensure the progressive development of the entire system of military cooperation, … to enhance Russia's presence on the global arms market, which should help domestic defense companies expand and upgrade production and create new high-quality jobs,' the Russian president added.
Last year, Russia exported $15.7 billion in 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 position.
Russian shipments accounted for 27 percent of global arms exports last year, just behind the United States at 29 percent, according to a report by the Stockholm International Peace Research Institute.
Among the major importers of Russian weapons and military equipment are India, China, Vietnam, Indonesia, Venezuela, Algeria and Malaysia.
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