November 15, 2022
2 mins read

EU to plug defence spending gaps with €70 bn by 2035

Pieter Wezeman, a senior researcher at Stockholm International Peace Research Institute, told Euronews that it is these areas where the focus will be…reports Asian Lite News

EU countries are planning to increase their defence expenditure by €70 billion by 2025 in order to fill existing capability gaps, according to the EU’s foreign policy chief.

Speaking in Brussels at a meeting of the bloc’s defence ministers, Josep Borrell also said the European Commission is pushing to procure weapons jointly across the EU, similar to the model used to obtain vaccines during the pandemic.

“The important thing is to go together, to avoid splitting the market, to avoid competition,” Borrell told reporters on Tuesday.

“We have to avoid what happened with the vaccines. Everybody together, altogether, makes for a better price, better quality, and better time.”

Some analysts argue that a dash for new weapons without a set of rules risks making a highly fragmented market even more disjointed.

They also say that the EU countries which have supplied weapons to Ukraine are now seeing gaps in certain areas of their weapons stockpiles, including munitions, artillery grenades and certain types of missiles.

Pieter Wezeman, a senior researcher at Stockholm International Peace Research Institute, told Euronews that it is these areas where the focus will be.

“When it comes to really standard types of equipment, such as ammunition, where the sums are involved, the financial sums involved are not necessarily that high.” Wezeman said.

“I think it is quite reasonable to expect that such cooperation can take place and again, within the NATO framework, we have seen really good examples of that.

“But when we talk about larger projects, when we talk about, let’s say, the acquisition of combat aircraft, ships, tanks, there is a long history of attempts to operate within the EU or within NATO, and often enough they have failed.

Wezeman added there’s also concern that this process can take a very long time – even years, if not decades – to come to an agreement on what to acquire, who will make it, and who will take the lead role.

ALSO READ-India a leading player on Climate Action: European report

Previous Story

US media change tune after midterms

Next Story

Biden meets Widodo, Modi on sidelines of G20 summit

Latest from -Top News

India, US Step Up Trade Talks

The development comes in the backdrop of the new US ambassador Sergio Gor taking charge in the US embassy is New Delhi….reports Asian Lite News India and the United States are progressing

Lanka Marks Next Phase of Indian Housing Drive

Phases III and IV of the Indian Housing Project highlight India’s commitment to supporting and empowering Sri Lanka’s Indian-origin Tamil community….reports Asian Lite News Sri Lankan President Anura Kumara Dissanayake on Sunday

Hamas Frees Captives

The Israeli Air Force announced that it has completed its preparations to receive hostages returning from Gaza to Israel….reports Asian Lite News The Red Cross has taken custody of the first group

China’s Grab for Africa

China’s investments aim to strengthen its geopolitical influence and its high-tech manufacturing sector in Africa…reports Asian Lute News China is further consolidating its dominance in the rare earth elements sector by expanding
Go toTop

Don't Miss

EU, India, US, Japan launch biopharmaceutical alliance

Government officials and representatives from bio and pharmaceutical companies from

Rajnath, Austin vow to boost India-US defence ties

With Austin’s visit to India and plan to enhance defence