Defense News reports: TEL AVIV, Israel — Israel’s Defense Ministry reported Wednesday that Israeli firms signed $6.5 billion in new export contracts for 2016, an $800 million rise above previous-year levels and an indication of an upward trend after a disappointing $5.6 billion in 2014.
“The rise in the amount of new contracts signed is an expression of a global trend of nations emerging from recession, especially those in Europe and North America, and of augmented defense budgets vis-a-vis intensifying security challenges,” said Mishel Ben-Baruch, director of the ministry’s SIBAT defense cooperation and export authority.
“We’re proud to conclude a challenging and successful year for the Israeli defense industry. We succeeded in partnership to achieve a significant rise in our defense exports,” he added. In an interview earlier this year, Ben-Baruch attributed Israel’s competitive edge in niche sectors of the global market to the country’s readiness to transfer technology and operational knowledge to its defense trade partners.
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