to the export of modernized

missile capabilities and significantly reduce its arsenal of conventional weapons. Most of its military budget went to the basic upkeep of the armed forces, with only a small portion allocated to the maintenance and development of the arms industry. As a result, the number of arms-producing enterprises in Ukraine had already fallen by nearly two thirds to reach 267 by mid 1993, and continued to decline in the following years. With limited domestic investment and procurement budgets, Ukrainian arms producers turned to the export of modernized Soviet-era equipment, technology transfers and joint ventures. This approach helped the industry to maintain a degree of economic viability and to preserve some technological capabilities. Competitive pricing and the proven durability of its systems enabled Ukraine to secure new export markets in Africa, Asia, Latin America and the Middle East. As a result, for nearly two decades after 1993, Ukraine nearly always ranked among the world’s top 15 arms exporters. สล็อต