Friday, March 16, 2007

U.S. exports to Arab world surging, report says

Some 900 weapons makers and security firms from around the world, including the U.S., competed for military customers at the IDEX military show last month in Abu Dhabi.

WASHINGTON (Reuters) - U.S. exports to Arab nations are forecast to reach a record $45 billion in 2007, shattering the previous high set last year, according to a report released on Thursday...

U.S. exports to 22 Arab countries increased 28 percent in 2006 to a record $35 billion, with the United Arab Emirates and Saudi Arabia accounting for more than half of the total.

Sales vary by country, but "cyclical demand for big-ticket items is on the upswing, including civilian aircraft, military systems and border security systems," the report said.

Read the rest at the Washington Post

Related Link:
Perspective: Gulf States Plan Weapons Buying Binge