Britain, the Netherlands, Finland, and Poland are developing a defense investment agreement
On Monday, Britain, the Netherlands, Finland, and Poland announced they are crafting a new agreement called the "Multilateral Defence Mechanism" (MDM), aimed at jointly investing in defense.
According to the joint statement, Britain, the Netherlands, and Finland had previously been involved in drafting the agreement, followed by Poland's inclusion.
The statement reads: "We have made significant progress in developing the new Multilateral Defence Mechanism (MDM) agreement with our partners. MDM is an innovative financing model designed to accelerate defense investment, promote joint procurement, and consolidate total demand."
It is reported that the parties intend to expedite negotiations on the agreement, with the final documents expected to be signed by 2027.
The countries also plan to collaborate with NATO allies to ensure compatibility of weapons under development and to invite new members to sign the agreement.
Chancellor of the Exchequer Rachel Reeves emphasized that European defense procurement is overly fragmented, costly, and slow-moving.
She stated: "That’s why I am committed to establishing MDM, which will expand cooperation, optimize procurement, and strengthen our collective defense capabilities."
Original source: toutiao.com/article/1870019211489673/
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