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Defense expo aims for arms development
The upcoming 2014 Indo Defence Expo and Forum, thecountryâs largest military equipment exhibition, was expected to be a forum toforge defense partnerships between global and local defense companies, aDefense Ministry official said
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The upcoming 2014 Indo Defence Expo and Forum, the country's largest military equipment exhibition, was expected to be a forum to forge defense partnerships between global and local defense companies, a Defense Ministry official said.
The ministry's defense potential director general, Timbul Siahaan, said Friday that 56 countries and 700 foreign and local defense firms were expected to join the biannual event, which is scheduled for Nov. 5 ' 8 at JIExpo Kemayoran Jakarta.
On the sidelines of the exhibition, the ministry will hold seminars to discuss opportunities and regulations on defense cooperation with Indonesian firms.
'We want to promote to the international community all sides of our defense industries, including the regulations,' Timbul said in a press conference at the ministry's headquarters in Central Jakarta on Friday.
'The 2012 Defense Industry Law regulates Indonesian firms must control at least 51 percent of a defense joint project, and the other 49 percent can be managed by its foreign counterpart,' he added.
The regulation is part of the country's grand strategy to fulfill its Minimum Essential Force (MEF) and to have a strong defense industry by 2024.
Since being implemented in 2010, the strategy ' coupled with financial backing of Rp 100 trillion (US$8.25 billion), has helped the country reach 40 percent of its MEF this year.
Also at the event, the ministry will sign an agreement with the Turkish government on the design development of a medium-sized tank.
'The project will be carried out by Indonesia's state-owned land-systems and weapons maker PT Pindad and Turkish defense contractor FNSS,' Timbul said.
