Pakistan Ordinance Factories (POF), country’s largest arms and ammunition manufacturing facility will open sales and marketing office in the United Arab Emirates (UAE) within one year.
The office will not only cater defence and military requirements of the country but also of the entire Middle East.
Last year, POF registered its single largest export order with a $100m (Dh367m) sale to Saudi Arabia
Speaking to Khaleej Times on the sidelines of the International Defence Exhibition and Conference in Abu Dhabi on Sunday, POF chairman Lt. Gen Omar Mahmood Hayat said that they are projecting at least a 100 per cent increase in sales only in the UAE.
According to a Market Watch report, the global small arms market could be worth $4.92 billion (Dh18b) by 2020 and the Middle East and Asia Pacific regions are expected to generate most of the foreseeable growth.