Russian Arms Trade Sets New Record: Medvedev
By NABI ABDULLAEV
Published: 10 Feb 12:00 EST (17:00 GMT)
MOSCOW - Russia's arms trade hit a new record in 2008, said President Dmitry Medvedev, who called on the government to aggressively seek new markets and diversify supplies.
"The overall revenue was over $8,350 million, which is $800 million more than last year," Medvedev said Feb. 10 at the meeting of the Russian government's Commission on Military Technical Foreign Cooperation here.
According to the Federal Service on Military Technical Cooperation, Russia earned $7.4 billion in 2007 by selling arms, spare parts and services, while the previous year it netted $6.46 billion.
Sales of heavy fighter jets accounted for about one-third of 2008's $8.35 billion in revenues, said Konstantin Makiyenko, a defense industry analyst with the Center of Analysis of Strategies and Technologies, a think tank here.
In 2008, Russia exported about 40 of Sukhoi's Su-30 fighters to Algeria, India, Indonesia, Malaysia and Venezuela, Makiyenko said.
Medvedev told commission members that the arms contracts they sign with foreign clients "should be based on the real capacities of our defense industry," so that deliveries of contracted goods and services are not delayed.
"We also need to enter markets where we are not present traditionally and where we are present, but not to the necessary extent," he said.
Russia's massive arms sales to Venezuela in the past several years were branded by Russian officials as a breakthrough into the traditionally U.S.-dominated arms market.
