Russia Seeks New Arms Deals on Growing Latin American Market

Russia will actively seek new deals on the Latin American arms market, which it expects to reach a value of $50 billion in the next ten years, the head of a Russian Technologies (Rostec) high-tech state corporation delegation said on Saturday.

“According to our expert estimates, the volume of the Latin American arms market will reach about $50 billion in the next ten years. If we focus our efforts on this, corresponding contracts could be signed,” said Sergei Goreslavsky, head of the delegation of Rostec, which comprises state arms exporter Rosoboronexport, at the SITDEF Peru 2013 defense technology exhibition.

Goreslavsky said Venezuela, Peru, Brazil, Argentina and Mexico were all interested in buying helicopters and air defense systems. Russia, the world's second largest arms exporter after the United States, already has existing or previous arms contracts with those countries, as well as with several other Latin American states.

Earlier on Saturday, Goreslavsky said that Russia was in discussions with Peru over the purchase of Russian trucks, helicopters and tanks, and that Russia was considering allowing Bolivia to purchase about 10 Mi-8/17 helicopters on credit.

Rosoboronexport sold $14.5 billion worth of weaponry to Latin American countries in the past 12 years, the company’s general director Anatoly Isaikin told the State Duma on Monday.