Search This Blog

Thursday, July 02, 2009

EU defence contracts to become more transparent

Flag of European UnionA code of conduct coming into force on Wednesday (1 July) in 25 EU member states and Norway is to bring more transparency in defence procurement contracts. But experts question its effectiveness as long as it is a non-binding agreement.

To be implemented by the European Defence Agency (EDA), the EU's intergovernmental co-operation body on military procurements, the code will set standards for side-deals made by national governments when they sign defence contracts.

In a classic example of a so-called "offset" deal, when Hungary bought 14 fighter jets from Swedish firm Saab for around €600 million, it asked for other Swedish investments worth 110 percent of the contract value. In one of the offsets, Swedish firm Electrolux built a new €65 million fridge factory in the country.

Read more
om

No comments:

Post a Comment

Note: only a member of this blog may post a comment.

Subscribe to: Post Comments (Atom)

Fair Use Notice

This site contains copyrighted material the use of which has not always been specifically authorized by the copyright owner.

The material is being made available in an effort to advance understanding arms trade activities, for non-profit research and educational purposes only.

I believe this constitutes a 'fair use' of any such copyrighted material as provided for in section 107 of the US Copyright Law.

If you wish to use this copyrighted material for purposes of your own that go beyond 'fair use,' you must obtain permission from the copyright owner.

This is a completely non-commercial site for private personal use. No fee is charged, and no money is made off of the operation of this site.