Minister of Strategic Industries Oleksandr Kamyshyn took part in the annual European Defence Agency Annual Conference 2023: Powering Up European Defense in Brussels.
The main topic of the conference was the concern of EU leaders about the EU’s defence capabilities in light of ongoing russian aggression against Ukraine. Therefore, the participants discussed strategic changes in the overall security environment of European countries, plans to prepare for future conflicts and arms buildup.
In particular, they talked about funding, regulatory changes, and stressed the need to increase production and develop high-tech innovations in the defence sector.
According to the Minister of Strategic Industries, global military spending in 2022 increased by 3.7% in real terms, reaching a new historical peak of USD 2.2 trillion. In Europe, military spending rose sharply, the most dramatically in the last 30 years. In 2022, spending by Central and Western European countries reached USD 345 billion, which in real terms exceeded the levels of 1989, when the Cold War had ended.
“And Ukraine is at the forefront of this growth. Our defence industry is developing at a record pace, and we continue to increase our capabilities. The free world urgently needs a new arsenal, and Ukraine is the best place to create it,” said Oleksandr Kamyshin.
In 2023, Ukraine’s military production tripled compared to 2022. According to forecasts, in 2024 it will grow six times.
According to the Minister, Ukraine is ready to share its experience in the use of weapons, quality indicators and methods of improving their effectiveness, and is open to cooperation in various formats.
“It can be a joint venture, licensed production, R&D, supply of components. We are fighting the largest and most technologically advanced war of a generation. We are losing the most valuable thing we have – our people. We want the lessons that Ukraine has learnt from this war to protect not only us, but the entire free world,” the Minister stressed.