Rostec to increase exports of high-tech products to Latin America
JSC Rosoboronexport (subsidiary of the Rostec State Corporation) presents over 180 select units of weapons and military equipment at LAAD 2017 in Rio de Janeiro.
“Rostec prioritises the promotion of high-tech products on the Brazilian and other Latin American markets. Since 2001 weapons and military equipment worth over U$10 billion in total have been supplied to the countries in the region,” Victor Kladov, Director for International Cooperation and Regional Policy Department of Rostec, said.
Rostec is a Russian corporation, created in 2007 to promote development, production and export of high-tech industrial products for civil and military purposes. It is comprised of over 700 organisations, which form nine holding companies in the military-industrial complex and six in civilian industries, as well as 32 organisations under direct management. The Rostec portfolio includes brands as AvtoVAZ, KAMAZ, Concern Kalashnikov, Russian Helicopters, and VSMPO-AVISMA, and Rostec organisations supply to and operate in over 70 countries. Consolidated revenues of Rostec companies in 2015 exceeded 1.14 trillion rubles (over $19 billion). According to the new Rostec strategy, the main objective of the corporation is to provide a technological advantage to Russia in highly competitive global markets. The planned investment volume for the development program until 2025 is over 4.3 trillion rubles (over $70 billion).
