Peruvian Minister of Defense José Huerta Torres and Spanish Minister of Foreign Affairs Josep Borrell Fontelles have signed a Memorandum of Understanding covering cooperation in armament and defense material. The agreement was signed on November 12, 2018 at Peru’s Government Palace in Lima.
The signing took place in the presence of Peruvian President Martín Vizcarra Cornejo, and the kings of Spain, Felipe VI and Letizia Ortiz, who are on an official visit to Peru.
According to the document, mutual cooperation includes the exchange of information on technological developments in the defense sector and industrial cooperation for the acquisition and export of defense material through government support. Under the agreement, the two countries will also exchange information on future requirements and development projects.
The Memorandum of Understanding will have a duration of ten years and will be automatically extended for successive periods of similar until any of the participants wishes its termination.
Peru has an extremely diverse supplier base. Since the 1970s, the Soviet Union, and then Russia, has been Peru’s leading arms supplier, but China, France, the U.S., Germany, Italy, the Netherlands, Israel, Brazil, Belarus, Bulgaria, South Africa, and South Korea have also been major suppliers. The agreement with Spain may lead to more deals between those two countries. It might also lead to increased workshare for Peruvian manufacturers.