Russian Defense Orderbook At $50 Billion In 2016 Despite ‘Unscrupulous’ Actions By Competitors : Putin

Russia has exported $4.6 billion worth weapons and military equipment in 2016 and the order portfolio stands at over $50 billion, Russian President said at a meeting of Moscow’s military-technical cooperative committee.

Russia should be prepared for tougher international competition and has to step up its efforts in the military-technical cooperation field, Vladimir Putin was quoted as saying by Sputnik Friday.

"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.

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

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 added.

"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."