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Ministry: Russia's arms exports to hit $7.5 bln
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08:58, April 03, 2008

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Russia is expected to export 7.5 billion U.S. dollars worth of weapons in 2008, securing its position as the world's second largest arms exporter following the United States.

"We plan for innovative products to account for 8 percent of all production in the military and industrial complex," Interfax news agency cited a source in the Industry and Energy Ministry as saying.

Russia's arms exports will stay at around 7.5 billion dollars till 2010, he said.

India is a major buyer of Russian arms ranging from advanced fighter jets to aircraft carriers, though some of those deals were postponed by price increases and delivery delays.

Moscow is also striving to sell more to the Middle East, Southeast Asian and Latin American states.


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