Source Pravda.Ru

Russia sets new arms sales record in 2012

In 2012, Russia has topped the arms export plan, President Vladimir Putin said at the meeting of the commission on military and technical cooperation with foreign countries.

"Their volume (the shipments of military products - Ed.) has exceeded 14 billion U.S. dollars, so we have topped the plan for the year," Puin said.

The plan for 2012 made up 13.5 billion dollars, according to Rosbalt. Last year, according to the Federal Service for Military and Technical Cooperation (FSMTC), Russia exported military production overseas in the amount of 13.2 billion dollars. Most of the proceeds - 81 percent - fell for the contracts of defense export giant Rosoboronexport, the sole state intermediary.

"This year, we are entering a record level on export deliveries of military products," said Putin.

Furthermore, the President paid attention to the qualitative changes in the system of military and technical cooperation, particularly, in joint military production and research developments. Putin also said that Russia had restored its position in the market of services for military modernization and repairs of Soviet military hardware, RBC reports.

"All this allows us not only to maintain the existing portfolio in the field of defense cooperation, but also to count on its growth. During the current year, we have entered new export contracts worth over 15 billion dollars," Putin said.

The President stressed that it was important for Russia to enter new markets, expand the range of supplies and services, said BFM.RU.

Last year, deliveries were conducted in 65 countries. A quarter of the exports fell for India, 15 per cent - for Algeria; Venezuela and Vietnam also served as major buyers.