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FINANCIAL NEWS
Canada considers USD2.78b defense deals in GCC
24 Feb 2015
(MENAFN) Canada is after USD2.78billion worth of defense deals from the Middle East in 2015, as western defense budgets are slashed, The National reported.
Canada is set on making an impact at Idex by splashing USD1.98 million on its pavilion at the show, in which 53 Canadian companies are exhibiting their products.
In 2014, Canada’s General Dynamics Land Systems signed a USD7.95 billion deal with Saudi Arabia for a supply of armored vehicles. A deal that brought considerable momentum for the purchases.
“We still see the GCC as one of the primary regions in the world for military procurement,” the president and chief executive of Canadian Commercial Corporation (CCC) said in a statement.
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