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Colombia aims to develop defense industry

Thursday, August 8, 2013

Colombia is aiming to regenerate and develop its defense industries as a potential new revenue base.

The South American nation has clinched new collaboration with South Korea in one of its latest deals toward that goal, according to official data.

Colombia is already seen by defense exporters as a major market, expected to spend $99.9 billion on defense equipment in a 2011-2016 program.

Source: UPI