Colombia aims to raise defense industry profile
Colombia aims to raise defense industry profile
Colombia is aiming to regenerate and develop its defense industries as a potential new revenue base and has clinched new collaboration with South Korea in one of its latest deals toward that goal, official data shows.
7, 2013 at 5:57 PM
BOGOTA, Aug. 7 (UPI) -- Colombia is aiming to regenerate and develop its defense industries as a potential new revenue base and has clinched new collaboration with South Korea in one of its latest deals toward that goal, official data show.
Colombia is already seen by defense exporters as a major market, expected to spend $99.9 billion on defense equipment in a 2011-16 program to counter both internal and external threats, Australian government data indicates.
However, Colombia's new focus is on becoming a manufacturer and exporter rather than remaining a net importer of defense and security equipment, a constant drain on its national budget resources.
A local defense industry that is viewed abroad as rather low-tech is up for transformation as the government of President Juan Manuel Santos considers new strategies for foreign direct investment and offset programs.
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. http://www.upi.com/Business_News/Security-Industry/2013/08/07/Colombia-aims-to-raise-defense-industry-profile/UPI-60001375912669/#ixzz2bMEKLkKr