South African defence company Paramount Group has signed an agreement with Indonesia's PT Pindad on developing military products.
The agreement was signed at the Defense and Security (D&S &S) 2019 exhibition in Bangkok, which concluded on 21 November.
Both companies will explore joint platforms production especially on the Harimau medium tank, which PT Pindad is developing with Turkey's FNSS Savunma Sistemleri.
"The Memorandum of Understanding (MOU) between PT Pindad and Paramount Group will explore the potential for joint production and contracts".PT Pindad
Such an agreement would like allow for the sales of the Harimau medium tank in Africa. PT Pindad has signed an agreement with the Indonesian Ministry of Defence in April to produce an initial batch of the tank.
Another platform for possible collaboration includes the X18 fire support vessel, currently developed in collaboration with Indonesian shipbuilder PT Lundin.
Arms exports currently make up the bulk of revenues for Paramount Group, although, a clause requiring buyers not to transfer weapons to third parties is causing dispute.
Officials at major South African defence groups including Paramount Group said the dispute was preventing their exports.