Wednesday, August 18, 2021

Ukrspeсexport’s cooperation with Turkey brings 15% of profit off foreign defense contracts – CEO

Ukrspeсexport’s cooperation with Turkey brings 15% of profit off foreign defense contracts – CEO

Revenues from Turkish contracts amounted to at least 15% of Ukrspecexport's profit last year, which brought more than $30 million.

That’s according to Vadym Nozdria, Ukrspecexport CEO, who gave an exclusive comment to Ukrinform.

"If we look at the 2020 statistics, our foreign exchange earnings from foreign economic contracts with Turkish customers take up at least 15%. Of the $230 million, more than $30 million is our activity one way or another concerning Turkey. This is a powerful indicator and, most importantly, in this market, we feel serious prospects for development, as the intensity of our negotiations with Turkish customers is growing. We hope that at this exhibition (IDEF 2021 – ed.), we will be able to consolidate the agreements reached at the level of contracts signed," said Vadym Nozdria.

According to him, Ukrainian-Turkish cooperation in the field of military-industrial complex is of a strategic nature, steadily strengthening each year. The process often sees Russia’s attempts to hinder it, although they have little effect.

"We can really feel this opposition: from certain manifestations of information hybrid warfare to measures to compromise Ukrainian companies that provide services to supply products to the Turkish market. This could have had some effect, but Ukraine and Turkey are confidently developing strategic relations, actively cooperating and, on principle, not paying attention to such manifestations. That is why we confidently repair Turkish helicopters, supply air defense systems, and have prospects for strengthening cooperation in the naval sphere,” said the Ukrspecexport CEO.