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Arms Exports Up $2.4Bln

Russia signed $5.7 billion in contracts to export military products in 2012, $2.4 billion more than in the first half of 2011, President Vladimir Putin said Monday.

The Russian defense industry's portfolio of export orders is $43 billion dollars, Putin added at a meeting of the commission on military-technical cooperation in Sochi, RIA-Novosti reported.

"Overall, the portfolio of export orders is about $43 billion, which means that our defense and related businesses will receive additional resources for development [and] modernization," he said.

(MT)

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