Turkey has approved a law that can help suppliers dodge their offset obligations. The obligors need only prove that input costs have “unexpectedly increased.” Law 7161, effective since January 17th, maintains that all public procurement contracts, including offsets in both the civil and defence sectors...can be terminated if the manufacturing cost of the contract has unexpectedly increased. To terminate the contracts the contractors must...
Defence companies have come out strongly against key sections of a draft Transparency International UK questionnaire. TI-UK distributed the questionnaire last year and has now published responses from defence companies. Most excoriate the NGO. The British defence industry organisation, ADS, held a “very constructive three-and-a-half hour meeting” with TI-UK on January 25th. Although the offsets discussions made up just a small part of the conversation...
CTO announces publication of a unique offset transaction record for the defence sector. The “CTO Global Offset Database” covers ten years to the end of 2017. The information has been compiled from analysis of data provided by SIPRI, and from CTO’s own extensive unique in-house archive. It is confined to commitments under defence contracts.
Counterpurchase obligations levied by Israel on foreign contractors totalled NIS13.5bn ($3.68bn) in 2018, up 56 percent compared to 2017. The Industrial Cooperation Authority says that some 1,065 Israeli companies enjoyed benefits from the country’s industrial cooperation program in 2018, some 243 companies more than in 2017.
South Korea’s Defence Acquisition Program Administration has announced a list of priority offset projects for 2019. CTO publishes the list.