Rosoboronexport (part of the Rostec State Corporation) discussed the current status and prospects for arms exports during the St. Petersburg International Economic Forum (SPIEF) 2019, which was held in the Expoforum Convention and Exhibition Centre from June 6-8.

“Rosoboronexport’s financial indicators suggest that our chosen development strategy is the right one: we have delivered $5.7 billion worth of products to foreign customers since the beginning of the year. As one of the world’s leading arms exporters, we are not only tracking and following global trends, but also introducing new areas of work that are unique for the market, including financial mechanisms for foreign trade activities.

The St. Petersburg Forum is an ideal platform for us to present our competencies to opinion leaders of the Russian and world economies. These days we are going to discuss with them the current ongoing efforts and business development in new economic realities,” said Rosoboronexport’s Director General Alexander Mikheev.

The St. Petersburg International Economic Forum has been held since 1997. Over this time, it has become the leading global platform for communication between business representatives and discussion of key economic issues facing Russia, emerging markets and the world as a whole.

At SPIEF 2019, Rosoboronexport’s top management will hold meetings with leading Russian state financial organizations and business entities, as well as with representatives of the Company’s partner countries in military-technical cooperation.

It is intended to discuss the growth prospects for Russian arms exports, the strategic development of its financial mechanisms, and state support measures for manufacturers and military-technical cooperation (MTC) actors.

The company is planning to focus on seeking new horizons and discussing specific prospects for cooperation with countries in Asia, Africa, the Middle East and Latin America, and expanding cooperation in the SCO region. The adaptation of the MTC actors and defense industry enterprises to new challenges of our time and sanctions pressure will certainly be a key issue.

“For five years, Russia and Rosoboronexport have been facing serious restrictions from a number of international financial institutions, which turned out to be heavily dependent on the political will of some players on the world arms market. We can only perceive them as unfair competition and attempts to put pressure on us and our partners,” added Alexander Mikheev.