Zelenskyy announces creation of new arms alliance

Volodymyr Zelenskyy announced the creation of the Alliance of Defence Industries during the first International Defence Industries Forum.

This was reported by the Office of the President.

The forum was attended by over 250 defence companies from 30 countries. 

The Alliance of Defence Industries has already been joined by 13 companies that are ready to cooperate with Ukraine in arms production. 

The government is developing a special economic regime for companies planning to operate in Ukraine. A defence fund will also be created to be filled with dividends from defence assets and profits from the sale of confiscated Russian assets.

Ukraine will also create a special Defence Fund, which will provide additional resources, in particular, for the development of military production and support for relevant cooperation for the creation of new military facilities and programmes. The fund will be replenished with dividends from state-owned defence assets and profits from the sale of confiscated Russian assets.

In total, Ukrainian companies signed 20 documents with foreign partners during the forum. These include agreements and memoranda on the manufacture of drones and the repair and production of armoured vehicles and ammunition. The cooperation formats include joint production, technology exchange, and supply of components.