Defense industry may help replenish EU stocks

Geopolitical developments provide a unique opportunity for Greece’s domestic defense industry, National Defense Minister Nikos Panagiotopoulos said at the DEFEA 2023 Defense and Security Fair in Greece on Tuesday.

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 defense industry will contribute around 30% of the upcoming contract for corvettes that will be signed by the next government, Panagiotopoulos added.

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

“Ukraine has such high need of these shells that all countries end up depleting their stocks,” he said.