Russia Exported $4.6 Bln Worth of Arms, Military Equipment in 2016 - Putin

Russian President Vladimir Putin said Friday that Russia has exported $4.6 billion worth of weapons and military equipment in 2016, while the order portfolio stands at over $50 billion.

Russian weapons are becoming more effective, while remaining fairly simple to use and requiring minimal maintenance, Putin said.

"Russian weapons are becoming more and more effective, but at the same time, they are still fairly easy to use and require minimal maintenance. It is possible to verify this not only at exhibitions."

Russia's defense industry should be ready for tougher international competition as Russia steps up its efforts in the military-technical cooperation field, Putin said.

"We must continue to improve the effectiveness of military-technical cooperation, act more precisely and coordinated. We must also be prepared that the intensification of our efforts will increase competition," Putin said at a meeting of Russia's military-technical cooperation committee.

He added that it was necessary to pay attention to promoting Russian military equipment and to developing more convenient ways of cooperating with customers.

According to the president, Russian arms exporters have proved themselves able to work effectively despite though competition on the international market and "unscrupulous actions carried out by competitors."

Russia is investing in advanced defense technologies and expanding its range of exported goods to include the latest equipment of air and sea combat, he said.

"Russia is investing in the development of advanced defense technologies, expanding the range of products it supplies, from small arms to the latest means of air and sea combat which are able to change the balance on any theater."