President Luiz Inacio Lula da Silva has launched a national policy to establish Brazil’s defence industrial base and support industries in the civil sector through enhanced industrial participation. A National Defence Strategy document lays down a timetable for various ministries to prepare for legislation to “stimulate participation by civil society.”
Brazil has signed contracts worth $12bn to buy 50 EC-725 military transport helicopters and five submarines from France under a bilateral cooperation agreement covering the extensive transfer of French technology.
Global Offset and Countertrade Association (GOCA) Chairman Neil Rutter and several Executive Committee members have resigned, with new appointments taking effect from 1st January.
South Korea’s offset policy will change in 2009. CTO has learned that a new version will be issued perhaps as soon as May.
Cheam Yeap, Chairman of the National Assembly’s Committee of Finance, Banking and Audits, assured other legislators that Russia will cut 70 percent of Cambodia's debt. The Russian Finance Ministry denied that Russia agreed to forgive any debt.