Keynote Address at Defence Offsets Seminar
Offsets are today a common feature of international arms trade. It is estimated that offsets and related forms of counter-trade constitute 5 to 30 per cent of global trade. More than a hundred countries use the mode of offsets in their arms contracts. Business and trade analysts put the exact volume of defence offsets at the global level at over $5 billion each year. The United States, the biggest arms exporter in recent times, is obviously one of the largest providers of offsets.
- Published: January 2009
