Pakistan has signed 82 Memoranda of Understanding (MoUs) with various countries to export a range of defence products worth US$30 billion.
The agreements were made during the four-day International Defence Exhibition and Seminar (IDEAS 2024), which concluded on Friday at the Expo Centre Karachi.
While speaking at the closing ceremony of IDEAS 2024, Lt Gen (Retd) Chiragh Haider, Secretary of the Ministry of Defence Production, revealed that the total value of MoUs, including previous agreements from past IDEAS events, now stands at $36 billion.
He explained that while these MoUs may take time to materialize into export orders or projects, the country expects to see significant returns in the coming years.
Since the last IDEAS in 2022, Pakistan’s defence exports have reached $1.3 billion, averaging around $450 million annually.
READ: Pakistan, China sign defence equipment agreements at IDEAS 2024
Major General Asad Nawaz Khan, Director General of the Defence Export Promotion Organization (DEPO), highlighted that several foreign countries and companies had entered into agreements with the six public sector entities including Heavy Industries Taxila (HIT), Pakistan Ordnance Factory (POF) in Wah, Pakistan Aeronautical Complex (PAC) Kamra, The National Radio & Telecommunication Corporation (NRTC), and Global Industrial & Defence Solutions Pakistan (GIDS Pakistan).
Notable MoUs include a deal worth Rs10 billion with Switzerland and 15 agreements signed by technology-driven defence startups supported by Pakistan’s armed forces.
One of the key deals at IDEAS 2024 was between Turkey and POF Wah to establish a joint plant.
The National Radio & Telecommunication Corporation (NRTC) MD Muhammad Asim in a statement disclosed that they have signed 11 MoUs with Middle Eastern and African countries, focusing on technology, communication, and radar systems.
