Military-industrial holding "Azersilah" is being created in Azerbaijan

Baku/07.09.23/Turan: In a significant development, President Ilham Aliyev of Azerbaijan has issued a decree today, paving the way for the establishment of Azersilah Defense Industry Holding CJSC, to be known as Azervooruzhenie. The newly formed holding will operate under the purview of the Ministry of Defense Industry.

The primary objective behind the creation of this defense industry holding is to align the sector with contemporary demands, thereby ensuring the production of military-technical equipment domestically. Furthermore, the initiative aims to enhance the competitiveness of state-owned enterprises and strengthen oversight of financial matters.

Azersilah Defense Industry Holding CJSC will play a pivotal role in the production, export, and sale of weaponry. The oversight of the holding will be entrusted to a three-member Supervisory Board, led by its Chairman. Day-to-day management responsibilities will be undertaken by the Chief Executive Officer.

In a related development, two prominent scientific and production associations, namely "Iqlim" ("Climate") and "Prompribor," will be incorporated into the fold of the Ministry of Defense Industry, further consolidating efforts in the defense sector.

In January 2023, President Ilham Aliyev announced significant plans to strengthen the country's armed forces and strengthen its military-industrial complex. In an interview with local TV channels, President Aliyev outlined his vision of strengthening Azerbaijan's military potential, emphasizing the double emphasis on meeting domestic defense needs, as well as on pursuing an aggressive export strategy.At present, Azerbaijan is already a noteworthy player in the international arms trade, supplying military products to 30 countries. President Aliyev's remarks alluded to a shifting landscape in the global arms market, marked by changes in the strategies of major players.

"An interesting development has occurred in the global arms market. Russia has largely withdrawn from international arms trade, redirecting its military-industrial complex towards domestic priorities. Similarly, the United States is directing its military exports towards Ukraine, and European nations are following suit," President Aliyev explained. "This has left a void in the market, and we are poised to fill it."

President Aliyev expressed confidence in Azerbaijan's capacity to export military products worth hundreds of millions of dollars. This ambitious export-oriented approach is a testament to Azerbaijan's increasing prominence in the defense industry.

Notably, Azerbaijan enjoys close collaboration with Turkey and Israel in the realm of defense technology and industry. These partnerships have been pivotal in strengthening Azerbaijan's position in the global defense market, further highlighting the nation's commitment to advancing its military capabilities.

September 24–26 .The 5th International Defense Industry Exhibition ADEX 2024 will be held in Baku in 2024.--06D--