Greek defence industry can help replenish EU stocks

Nikos Panagiotopoulos defence industry

National Defence Minister Nikos Panagiotopoulos said at the DEFEA 2023 Defense and Security Fair in Greece on Tuesday, geopolitical developments provide a unique opportunity to Greece's domestic defence industry.

The ministry, he said, negotiates for the Greek industry's significant inclusion in every contract signed through its General Directorate for Defense Investments and Armaments (GDAEE).

For example, the domestic defence industry will contribute around 30% of the upcoming contract for corvettes that the next government will sign, Panagiotopoulos added.

The European Union will also support companies that need to speed up the production of some materials in EU member states to add to the depleted stock of material sent to Ukraine, such as 155 mm artillery shells.

"Ukraine has such a high need of these shells, that all countries end up depleting their stocks," Panagiotopoulos said.

At DEFEA, the Greek minister toured pavilions and met with his counterparts Guido Crosetto of Italy and North Macedonia Slavjanka Petrovska, with whom he discussed bilateral collaboration and the East Mediterranean security issues.

The annual Defense Exhibition opened on Tuesday afternoon and will continue until Thursday (May 9-11) at the Metropolitan Expo Athens. A total of 346 exhibitors from 28 countries signed up for it.

READ MORE: Retired Greek general evaluates the success of the expected Ukrainian counterattack.

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