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NEW YORK, Oct 2 (APP):- India, Pakistan and Saudi Arabia were the top buyers of weapons in 2006, while the United States was the leading supplier of arms to the developing world, a Congressional study has revealed. The study by the nonpartisan Congressional Research Service said that nearly 36 percent of the weapons bought last year in developing countries were sold by the US, the New York Times reported Monday. The value of the arms was $ 10.3 billion. Next was Russia with more than 28 percent of the market, worth $8.1 billion, and Britain at $3.1 billion, or nearly 11 percent. More than 60 percent of the global arms market, about $28.8 billion, was in sales to developing countries, a decline of about nine percent from 2005's $31.8 billion. On the buyers' side, Pakistan concluded $5.1 billion in agreements to buy arms last year, followed by India and Saudi Arabia with $3.5 billion and $3.2 billion in agreements respectively. The announcement of major new arms agreements with Pakistan last year renewed debate over whether the Bush administration was elevating its counterterrorism priorities above other things. Pakistan was a major recipient of American arms sales in 2006, including the $1.4 billion purchase of 36 new F-16C/D fighter aircraft and $640 million in missiles and bombs. The deal included a package for $890 million in upgrades for Pakistan's older ersions of the F-16. Meanwhile, China also plays an interesting role as a buyer as well as a seller. While it buys advanced air and naval weapons from Russia, it sells less expensive arms to developing nations, the report noted. (Posted @ 19:05 PST)
- DAWN - Latest Stories; October 1, 2007
- DAWN - Latest Stories; October 1, 2007