OREANDA-NEWS. In the course of the 9th International Exhibition of Armaments Military Equipment and Ammunition "Russia Expo 2013" in Nizhny Tagil State Corporation Bank for Development and Foreign Economic Affairs (Vnesheconombank)' and open joint stock company Rosoboronexport entered into an agreement on cooperation in implementing export projects in foreign countries.

On behalf of Vnesheconombank the agreement was signed by Deputy Chairman, Member of the Board Alexandr Ivanov and on behalf of Rosoboronexport - by Deputy Director General Igor Sevastianov.

The agreement provides for developing partner relations and expanding effective and mutually beneficial cooperation designed to promote exports of Russian military products and boost their competitive edge in the world market.

The agreement's implementation would help to achieve common objectives of modernizing the domestic economy and ensure increased access of Russian companies to the world market as well as improve the system of state support for the export of Russian products, works and services.

Open Joint Stock Company Rosoboronexport incorporated in Rostech Corporation is the sole state intermediary agency for Russia's exports/imports of defense-related and dual use products, technologies and services.

Rosoboronexport has an exclusive right to supply export-approved armaments and military equipment manufactured by Russia's defense industrial complex enterprises to the world market.

Rosoboronexport is ranked among the leading operators in the international arms and military equipment market.