Azerbaijani Armed Forces fund exceeds $56 million

Source: AzerNews

As of August 1, 2013 the funds accumulated in the Azerbaijan Armed Forces Assistance Fund amounted to 44,182,973 manats (about $56 million), $211,791 and 593 euros, the Defense Ministry said.

The armed forces fund was established under the decree issued by the President on August 17, 2002. The goals of the fund are to drive the development of Azerbaijan's armed forces, to strengthen the logistics and improve social security of servicemen.

The manager of the fund is the Azerbaijani President.

The fund, which is based in Azerbaijan's capital Baku, is financed by donations from private individuals and legal entities operating in the country, and revenues which are not prohibited by Azerbaijani laws.

Azerbaijan is bolstering its military power and defense capabilities year-on-year and the fourth military parade held in Baku on June 26 since Azerbaijan gained independence in 1991 is evidence of this trend.

The establishment of the Ministry of Defense Industry has been instrumental in strengthening the defense potential of the country. The ministry said on July 30 that the range of defense goods produced in Azerbaijan exceeded 750 items in the first half of 2013.

The Defense Industry Ministry has created a new post-patrol Gurza machine, equipped with two 7.62 mm caliber weapons, one 12.7 mm caliber machine gun, a new 7.62 x 51mm caliber sniper rifle meeting NATO standards, and a machine gun designed for use in special military operations.

Furthermore, a new reconnaissance vehicle has been produced. This machine is equipped with a 23 mm caliber canon, a 7.62 mm caliber twin machine gun mount, an AQ-17 grenade launcher and other military equipment.

Machine guns, mortar launchers, Zafar-K pistols, AK-74M submachine guns, battle and signal bullets, hand grenades, anti-tank and anti-personnel mines, firearms, and spare parts for armored vehicles are among the goods produced and delivered to the customers.

Gurza patrol vehicles, 7.62 ? 54 millimeter Gurza machine guns, 7.62 ? 51 millimeter Yalguzag sniper rifles, 7.62 ? 54 millimeter attack machine guns of HP-7.62 type, Aerostar and Orbiter unmanned drones were exhibited at the IDEF-2013 international exhibition held in Istanbul in May 2013.
The Azerbaijani armed forces are powerful and equipped with modern military machinery, always ready to defend the country and capable of fulfilling any task. The Azerbaijani army is the most powerful in the South Caucasus region.