Pakistan Set to Gain $30 Billion in Defence Exports

Pakistan anticipates earning $30 billion by exporting defence products to friendly countries. The country signed 82 MOUs during the International Defence Exhibition and Seminar (IDEAS 2024). Key exports include fighter jets and advanced drones. Exhibitors from over 55 countries attended. Previous exports reached $1.3 billion in three years.

Pakistan is poised to significantly boost its economy, potentially earning $30 billion from defence exports to allied countries. The Ministry of Defence, on Thursday, announced the signing of 82 Memorandums of Understanding (MoUs) at the International Defence Exhibition and Seminar (IDEAS 2024) for the export of high-tech military equipment.

Highlighted products include advanced drones, fighter jets, commercial ships, and radar systems. Attendees from 55 countries, including the US, Russia, and China, participated in the event held amidst tight security in Karachi last week, marking a successful 12th edition of IDEAS.

The defence export ambitions underline Pakistan's strategic partnerships and manufacturing capabilities. While the MoUs represent potential contracts, their fruition depends on comprehensive testing and adaptation, reminded Defence Secretary Lt Gen (Retd) Chiragh Haider. Pakistan's defence export revenue has reached $1.3 billion over the past three years, with hopes pinned on these promising agreements.

(With inputs from agencies.)