SSB and Ukroboronprom Shake Hands for Cooperation

28 Ocak 2019
Ukroboronporm_SSB_is_birligi - C - SSB

Cordial relations between Turkey and Ukraine continue to bear fruit in the defence sector, and the memorandum of understanding signed between the Presidency of Defence Industries (SSB) and Ukroboronprom, the umbrella agency that brings together Ukraine’s public defence and aerospace companies, can be considered the latest constructive development in this regard.

The memorandum, which regulates the provision of bank guarantees in defence sector projects, was signed during a joint press conference after the Seventh Meeting of the Turkey-Ukraine High Level Strategic Cooperation Council on November 3. In the presence of President Recep Tayyip Erdoğan and Ukrainian President Petro Poroshenko, the document was signed by Prof. Dr. İsmail Demir, President of Defence Industries, and Pavlo Bukin, General Director of Ukroboronprom. Thanks to this agreement, there will no longer be a need/requirement for bank guarantees in defence sector contracts valued at under $10 million.

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