MoU Signed During BRICS Summit

During the tenth annual BRICS (Brazil, Russia, India, China and South Africa) Summit in Johannesburg on 27 July, President Cyril Ramaphosa of South Africa and President Mauricio Macri of Argentina signed a Memorandum of Understanding (MoU) aimed at enhancing defence industry collaboration between their countries.

The MoU, which is the first commercial project of its kind to bring the two nations closer, “will allow for closer assistance and innovation of technologies that will support the development of the defence and industrial capabilities of both nations,” and commits Argentina’s Federal Aircraft Factory (FAdeA) and South Africa’s Paramount Group to the exchange of knowledge and high-level engineering, training and development of human resources and technology transfer.

The objective is that, in addition to providing long-term economic benefits through industrial development, the agreement provides for the strengthening of “regional peace and security.”