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Russia to keep 2nd place in world arms export — Russia's arms exporter

August 20, 2014, 16:13 UTC+3 MOSCOW
Rosoboronexport will account for about 15% of the world export of military products by 2020
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At the Oboronexpo-2014 arms exhibition in Russia

At the Oboronexpo-2014 arms exhibition in Russia

© ITAR-TASS/Sergei Savostyanov

Infographics Global Arms Market Global Arms Market
Global Arms Market. Infographics ITAR-TASS

MOSCOW, August 20. /ITAR-TASS/. Russia's arms exporter Rosoboronexport will account for about 15% of the world export of military products by 2020, which will secure Russia’s second place on the market, Rosoboronexport said in a report on Wednesday.

The company’s annual report for 2013 says that Rosoboronexport’s development strategy for the period up to 2020, approved by the company board of directors last November, will help achieve this goal.

The strategy lists among the company’s main tasks making Russian military products competitive on the world armaments market and strengthening Russia’s leadership in the military-technical cooperation sphere. The authors of the report say that these tasks will require, in particular, gradual transition from making separate deals to long-term cooperation with foreign partners, “aimed at integration in the development and production of modern arms samples, their effective servicing, acquisition of new technology and equipment, personnel training and the establishment of joint ventures both in Russia and abroad.”

The OJSC Rosoboronexport, a subsidiary of the Rostec State Corporation, is the sole Russian state intermediary agency responsible for the import and export of the full range of defense and dual-use end products, technologies and services.

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