Ukraine, Germany set up joint defense venture

Ukraine, Germany set up joint defense venture

On October 18, Germany’s defense concern Rheinmetall and the Ukrainian Defense Industry established a joint venture to service and repair military equipment supplied to Ukraine by partners.

Prime Minister of Ukraine Denys Shmyhal stated this at the sixth German-Ukrainian Economic Forum in Berlin, an Ukrinform correspondent reports.

"We are actively working with German business, and I am pleased to announce that on October 18, a joint venture, Rheinmetall - JSC Ukrainian Defense Industry, was registered, set up by the leaders of the defense industries of Germany and Ukraine. The establishment of the joint venture is, without exaggeration, a landmark event that brings cooperation between our countries to a qualitatively new level and will allow us to build the arsenal of the free world together," he said.

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In a post on Telegram, Shmyhal added that the joint venture will provide maintenance and repair of equipment supplied by the partners to Ukraine. It will also localize the production of leading models of Rheinmetall AG equipment.

In turn, President of Ukraine Volodymyr Zelensky invited German companies to cooperate in the development of the Ukrainian defense sector.

"Working together, we can combine the best qualities of our nations. Ukraine and Germany can give Europe a chance to grow: more security, more development, more jobs, more opportunities for ordinary families to live a decent life, more strength for our continent," he said during an online speech at the sixth German-Ukrainian Economic Forum.

He called on the forum participants to pay attention to Ukraine’s defense sector, which is currently expanding the production of weapons, equipment, and shells.

"This is our number one production priority. Some German companies have already started to cooperate with us in this field. And we invite all others," added the President of Ukraine.

As reported, the sixth German-Ukrainian Economic Forum has started in Berlin, bringing together more than 500 representatives of politics and business. The forum is held under the slogan "Recovery, Smart Growth and Security".

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