IDEAS 2024 Achieves $36 Billion in Defense MoUs with Global Partners

Karachi: Pakistan has executed 82 Memoranda of Understanding (MoUs) with favorable nations to export defense products and equipment valued at $30 billion. These consist of radars, electronic warfare systems, commercial and logistic ships, fighter aircraft, and advanced drones. The agreements were finalized at the Karachi Expo Centre during the four-day International Defence Exhibition and Seminar (IDEAS 2024).

Lt Gen (Retd) Chiragh Haider, the Ministry of Defence Production Secretary, stated at the concluding ceremony of the 12th iteration of IDEAS 2024 that Pakistan had received potential export orders worth $36 billion as a result of the incorporation of the MoUs signed at previous editions of IDEAS.

“The country is negotiating MoUs worth about $36 billion to translate them into export orders over the years to come. They may turn into projects later which could happen in two years, or even a year. MoUs take time to mature and turn into projects, as testing, trial, and sometimes further modification occurs.”

He maintained the country has achieved defense exports worth $1.3 billion over the past three years or since the previous edition of IDEAS in 2022. “This translated into defense export close to. $450 million a year.”

Major General Asad Nawaz Khan, Director General of the Defence Export Promotion Organization (DEPO), disclosed that numerous foreign nations and corporations executed memoranda of understanding (MoUs) with Pakistan’s foremost defense organizations, including the National Radio & Telecommunication Corporation (NRTC), the Pakistan Aeronautical Complex (PAC) Kamra, the Pakistan Ordnance Factory (POF) Wah, and Global Industrial & Defence Solutions Pakistan (GIDS Pakistan). Furthermore, a private Pakistani company executed a memorandum of understanding with Switzerland valued at Rs10 billion.

The potential role of technology-driven defense startups, which have secured 15 MoUs to establish technology parks, was underscored by him. These startups are supported by Pakistan’s armed forces. A MoU between Turkiye and POF Wah to establish a plant was one of the main agreements, as was another between NRTC and a Middle Eastern nation.

Muhammad Asim, the Managing Director of NRTC, disclosed that the organization executed 11 memoranda of understanding (MoUs) with Middle Eastern and African nations regarding radar systems, technology, and communication. He also mentioned that a letter of intent (LOI) for air defense radars was received from a friendly country, which could result in a substantial export contract.

Additionally, Pakistan pursued novel opportunities in the African and East Asian markets during IDEAS 2024, resulting in the signing of memoranda of understanding (MoUs) with five new export destinations in the fields of technology, surveillance, electronic warfare, and radar systems. Pakistan’s defense industry has taken a substantial stride forward on the global stage because of these developments.