According to the draft agreement, the key purpose of creating the interstate financial-industrial holding is the use of scientific, industrial and investment potential of its members to develop and produce high-tech and internationally competitive missile defence systems, and other dual-purpose and non-military products.
Under this document Russia and Belarus pledge to create the interstate financial-industrial holding Defence Systems on the basis of an eponymous Russian holding, which will incorporate Belarusian companies pursuant to the terms and procedures set forth in the agreement on its creation. The holding will be registered in the Russian Federation in accordance with Russian legislation. The Russian financial-industrial holding Defence Systems will be converted into the interstate financial-industrial holding.
The group will be managed by the Board of Directors. The chairman of the board will represent the Russian side, and the deputy chairman will represent the Belarusian side.