Islamabad, Nov 23: IDEAS 2024 Secures MoUs Valued at $36 Billion. In order to export $30 billion worth of defense equipment and products, Pakistan has inked 82 Memorandums of Understanding (MoUs) with friendly countries. These include fighter jets, radars, electronic warfare systems, commercial and logistic ships, and sophisticated drones. The four-day International Defence Exhibition and Seminar (IDEAS 2024), which came to an end at the Karachi Expo Centre on Friday, saw the finalization of the agreements.
Pakistan has received potential export orders worth $36 billion, including Memorandums of Understanding inked during earlier editions of the event, Secretary of the Ministry of Defence Production Lt Gen (Retd) Chiragh Haider said during the closing ceremony of the 12th edition of IDEAS.
Because of testing, trials, and adjustments, these agreements take time to develop into full-scale initiatives, but some could come to fruition in a year or two, he said. Since IDEAS 2022, Pakistan has exported $1.3 billion worth of defenses, averaging about $450 million a year, according to Lt Gen Haider.
Pakistan’s major defense entities, such as Heavy Industries Taxila (HIT), Pakistan Ordnance Factory (POF) Wah, Pakistan Aeronautical Complex (PAC) Kamra, the National Radio & Telecommunication Corporation (NRTC), and Global Industrial & Defence Solutions Pakistan (GIDS Pakistan), have signed Memorandums of Understanding (MoUs) with several foreign countries and businesses, according to Major General Asad Nawaz Khan, Director General of the Defence Export Promotion Organization (DEPO). Additionally, Switzerland and a private Pakistani company signed a Rs. 10 billion Memorandum of Understanding.
During IDEAS 2024, Pakistan also investigated new markets in Africa and East Asia, signing Memorandums of Understanding with five new export destinations in fields like radar systems, technology, surveillance, and electronic warfare. These events represent a major advancement for Pakistan’s defense sector internationally.
