Malaysia and Indonesia have agreed to promote the creation of the ASEAN Defense Industry Collaboration (ADIC) to tap massive military spending in the region.
The commitment was voiced by visiting Malaysian Defense Minister Ahmad Zahid Hamidi and his Indonesian counterpart, Purnomo Yusgiantoro, on Wednesday.
Both ministers spoke at a seminar on the revitalization of the Indonesian defense industry, jointly organized by the Indonesian Defense Ministry, Antara news agency and Sinar Harapan, an evening newspaper, in Central Jakarta.
Purnomo said military spending by the Association of Southeast Asian Nations (ASEAN) members reached US$25 billion per year.
“Currently, there are four ASEAN members with established defense industries: Thailand, Malaysia, Singapore and Indonesia,” he told the seminar.
“However, the region is still a net importer of weapon...