The Israeli Ministry of Economy and Industry (MoEI) announced on 20 July that it had reached an agreement with Germany's Thyssenkrupp Marine Systems (TKMS) over the discharge of offset and counter-trade obligations related to the country's acquisition of submarines and corvettes.

The new agreement will mean that the company will discharge EUR300 million (USD353 million) in offset and counter-trade projects over a five-year period. The MoEI said in a release that the agreement covered “extensive investments in projects, knowledge transfer, and business opportunities for the local industry and reciprocal procurement, which will benefit dozens of suppliers, businesses, and industries in Israel”.

Israel and TKMS have agreed a schedule for the discharge of the latter's offset obligations relating to the Sa'ar 6 corvette (seen here during sea trials in 2020) and submarine procurement programmes. (Israel Defence Force)

The Israeli Ministry of Economy and Industry (MoEI) announced on 20 July that it had reached an agreement with Germany's Thyssenkrupp Marine Systems (TKMS) over the discharge of offset and counter-trade obligations related to the country's acquisition of submarines and corvettes.

The new agreement will mean that the company will discharge EUR300 million (USD353 million) in offset and counter-trade projects over a five-year period. The MoEI said in a release that the agreement covered “extensive investments in projects, knowledge transfer, and business opportunities for the local industry and reciprocal procurement, which will benefit dozens of suppliers, businesses, and industries in Israel”.

Israel and TKMS have agreed a schedule for the discharge of the latter's offset obligations relating to the Sa'ar 6 corvette (seen here during sea trials in 2020) and submarine procurement programmes. (Israel Defence Force)

The Israeli Ministry of Economy and Industry (MoEI) announced on 20 July that it had reached an agreement with Germany's Thyssenkrupp Marine Systems (TKMS) over the discharge of offset and counter-trade obligations related to the country's acquisition of submarines and corvettes.

The new agreement will mean that the company will discharge EUR300 million (USD353 million) in offset and counter-trade projects over a five-year period. The MoEI said in a release that the agreement covered “extensive investments in projects, knowledge transfer, and business opportunities for the local industry and reciprocal procurement, which will benefit dozens of suppliers, businesses, and industries in Israel”.

Israel and TKMS have agreed a schedule for the discharge of the latter's offset obligations relating to the Sa'ar 6 corvette (seen here during sea trials in 2020) and submarine procurement programmes. (Israel Defence Force)

The Israeli Ministry of Economy and Industry (MoEI) announced on 20 July that it had reached an agreement with Germany's Thyssenkrupp Marine Systems (TKMS) over the discharge of offset and counter-trade obligations related to the country's acquisition of submarines and corvettes.

The new agreement will mean that the company will discharge EUR300 million (USD353 million) in offset and counter-trade projects over a five-year period. The MoEI said in a release that the agreement covered “extensive investments in projects, knowledge transfer, and business opportunities for the local industry and reciprocal procurement, which will benefit dozens of suppliers, businesses, and industries in Israel”.

Israel and TKMS have agreed a schedule for the discharge of the latter's offset obligations relating to the Sa'ar 6 corvette (seen here during sea trials in 2020) and submarine procurement programmes. (Israel Defence Force)

The Israeli Ministry of Economy and Industry (MoEI) announced on 20 July that it had reached an agreement with Germany's Thyssenkrupp Marine Systems (TKMS) over the discharge of offset and counter-trade obligations related to the country's acquisition of submarines and corvettes.

The new agreement will mean that the company will discharge EUR300 million (USD353 million) in offset and counter-trade projects over a five-year period. The MoEI said in a release that the agreement covered “extensive investments in projects, knowledge transfer, and business opportunities for the local industry and reciprocal procurement, which will benefit dozens of suppliers, businesses, and industries in Israel”.

Israel and TKMS have agreed a schedule for the discharge of the latter's offset obligations relating to the Sa'ar 6 corvette (seen here during sea trials in 2020) and submarine procurement programmes. (Israel Defence Force)

The Israeli Ministry of Economy and Industry (MoEI) announced on 20 July that it had reached an agreement with Germany's Thyssenkrupp Marine Systems (TKMS) over the discharge of offset and counter-trade obligations related to the country's acquisition of submarines and corvettes.

The new agreement will mean that the company will discharge EUR300 million (USD353 million) in offset and counter-trade projects over a five-year period. The MoEI said in a release that the agreement covered “extensive investments in projects, knowledge transfer, and business opportunities for the local industry and reciprocal procurement, which will benefit dozens of suppliers, businesses, and industries in Israel”.

Israel and TKMS have agreed a schedule for the discharge of the latter's offset obligations relating to the Sa'ar 6 corvette (seen here during sea trials in 2020) and submarine procurement programmes. (Israel Defence Force)