Bulgaria Eyes Offset Deals To Boost Defence Exports - Media

The goal is to start exports under defence procurement deals in other countries as soon as possible, Deputy Economy and Energy Minister Evgeni Angelov told BTA (www.bta.bg) in an interview on Tuesday.

Defence offset agreements usually provide additional advantages for the purchasing country besides investment in military equipment. The seller could undertake to buy goods produced in the purchasing country, make investments there or form partnerships with local businesses.

Bulgaria has so far been only the purchasing party to offset agreements having clinched a total of four such deals.

Bulgaria's defence exports reached 150 million euro ($226 million) in 2008, the official said.

A total of 438 permits covering exports with a combined value of 475 million euro were issued in 2008 by the Export Control and Weapons of Mass Destruction Non-Proliferation Interministerial Commission with the Economy Minister, Angelov said.

The commission has issued 376 permits covering export contracts with a combined value of 268 million euro so far in 2009.

Bulgaria continues to enjoy solid reputation as a producer of fire arms, small arms and ammunitions, including artillery systems, unguided air-launched missiles, optical devices and radio jamming equipment, Angelov said.

According to him, NATO and EU countries have accounted for around 17% of the export business of Bulgaria's defence sector over the past couple of years.

($ = 0.6692 euro)