NATO allies to sign a new defense industry pledge at the summit

NATO member states will sign a new commitment to the defense industry at the summit in Washington.

RBC-Ukraine reports citing a statement by NATO Secretary General Jens Stoltenberg during the opening of the Defense Industries Forum, which is taking place on the sidelines of the NATO summit.

"All NATO member states will sign a new defense industrial commitment. And this will be a pledge that will help make our industry in Europe and North America stronger, more innovative, and capable of large-scale production," Stoltenberg said.

According to him, the first major element of this promise is an increase in defense spending. The second component will be that NATO countries "must spend better by spending more together".

"This is partly so that we can actually sign large long-term contracts, and also so that we can use economies of scale by working together with the defense industry," the NATO Secretary General said.

Author - Serhii Kolomiets, 10/07/2024