Arms exports reach record

Israel’s orders backlog for arms, on the basis of signed contracts with countries from all over the world, exceeded $4.4 billion in 2006, according to data collated by SIBAT - Foreign Defense Assistance and Defense Export Organization. Defense exports totaled $3.6 billion in 2005; exports grew 20% in 2006. The previous record was $4 billion, set in 2002.

Ministry of Defense director general Maj.-Gen. (res.) Gabi Ashkenazi said Israel’s defense exports were a key economic engine, and that the defense industry's export achievements demonstrated Israel’s leadership in this industry. He praised the parties involved in defense export activity in the various defense companies and at the Ministry of Defense. Israel’s defense companies, both government and in the private sector, supply the IDF with the most advanced systems in the world. These systems are developed on the basis of the IDF’s wide operational experience and meet the operational needs of all the branches of the armed forces.

Israel’s defense export achievement in 2006 demonstrates that the country’s defense companies, which rely on original and proprietary R&D, have the full confidence of many of the world’s armed forces.

Published by Globes [online], Israel business news - www.globes.co.il - on January 1, 2007

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