Hungary signs MoU with U.S. on USD 1 bln missile system
Jaroslav Moravcik / Shutterstock.com
Hungarian Defense Minister Tibor Benkő and United States Ambassador David Cornstein signed a memorandum of understanding on the procurement of a USD 1 bln US missile defense system in Budapest on Wednesday, state news wire MTI reports.
Photo by Jaroslav Moravcik/Shutterstock.com
According to the document, the Hungarian Army has accepted the offer of the United States and will acquire the necessary components for its upgraded missile system through the U.S.ʼs Foreign Military Sales program by September 30, 2020.
"Our goal is to create the kind of capability that serves the defense of the Hungarian people and the interest of the entire country," Benkő said at the signing.
"The primary aim of the air defense system is deterrence and the strengthening of security, as well as the support of military training," he added.
Ambassador Cornstein said the purchase is Hungaryʼs largest-ever defense procurement from the United States.
"We commend the Hungarian government’s strong commitment to continue modernizing Hungaryʼs military through the acquisition of the worldʼs most advanced mid-range air defense system, which will enhance Hungary’s ability to provide collective and self-defense," the U.S. embassy said in a statement.
"This procurement will further deepen the excellent security cooperation between our two countries," it added.
The embassy said Hungary will procure Advanced Medium-Range Air-to-Air Missiles (AMRAAM) produced by Raytheon Technologies.
SUPPORT THE BUDAPEST BUSINESS JOURNAL
Newspaper organizations across the globe have struggled to find a business model that allows them to continue to excel, without compromising their ability to perform. Most recently, some have experimented with the idea of involving their most important stakeholders, their readers.
We would like to offer that same opportunity to our readers. We would like to invite you to help us deliver the quality business journalism you require. Hit our Support the BBJ button and you can choose the how much and how often you send us your contributions.