'Pakistan to earn USD 30 billion from defence exports in coming years'

By The Capital

On 28 Nov 2024 16:23:43

'Pakistan to earn USD 30 billion from defence exports in coming years'

Pakistan potentially stands to earn approximately USD 30 billion in coming years by exporting defence products and equipment to friendly countries, the Ministry of Defence said on Thursday.

Pakistan has signed 82 Memorandum of Understanding (MoUs) during the International Defence Exhibition and Seminar (IDEAS 2024) to export defence products and equipment including advanced drones, fighter jets, commercial and logistic ships, electronic warfare equipment, and radars, Ministry of Defence Production Secretary Lt Gen (Retd) Chiragh Haider told PTI.

Haider said the 12th edition of IDEAS held last week amidst tight security in Karachi was a big success and ended with a lot of potential export agreements.

Defence manufacturers and exhibitors from over 55 countries including the United States, Russia, China, Turkiye, Iran, Italy, the UK, and Azerbaijan sent delegations to take part in the exhibition.

“Pakistan has signed MOUs for potential export orders totalling USD 30 billion but keep in mind MoUs take time to mature and turn into projects, as testing, trial, and sometimes further modification occurs,” Haider said.

Haider said the MOUs could and should translate into potential export orders in coming years.

The Defence Secretary said Pakistan has achieved defence exports worth USD 1.3 billion over the past three years since the previous edition of IDEAS in 2022.

Defence Export Promotion Organisation (DEPO) Director General Major General Asad Nawaz Khan said most of the MOUs were inked with six public sector entities, including Heavy Industries Taxila (HIT), Pakistan Ordnance Factory (POF) in Wah, Pakistan Aeronautical Complex (PAC) Kamra, The National Radio and Telecommunication Corporation (NRTC), and Global Industrial and Defence Solutions Pakistan (GIDS Pakistan).

He said Pakistan and China have also signed defence equipment agreements.

Pakistan showcased its Haider Main Battle Tank (MBT) and new medium-altitude long-endurance Shahpar III drone aside from Al-Khalid and Al-Zarrar tanks and the latest model of the Super Mushshak Aircraft at IDEAS.