Wars, regional tensions boost arms sales
Global arms sales have been on the rise in recent years, driven by wars and regional tensions. According to a recent report by the Stockholm International Peace Research Institute (SIPRI), the global arms trade has increased by 1.5 per cent between 2015 and 2016, with a total value of $72.4 billion in 2016.
The increase in arms sales can be attributed to a number of factors, including the ongoing conflicts in the Middle East, as well as the rising tensions in Eastern Europe and Asia. The report noted that the top five arms-exporting countries in 2016 were the United States, Russia, China, France, and Germany, while the top five arms-importing countries were Saudi Arabia, the United Arab Emirates, India, China, and South Korea.
The report also highlighted the increasing trend of arms trade between developed and developing countries, with the latter accounting for 51 per cent of the total arms imports in 2016. The report noted that the arms trade has the potential to fuel conflicts and undermine international efforts to reduce tensions.
In addition, the report emphasized the importance of transparency and accountability in the arms trade, calling for strict export controls and human rights safeguards to be in place to prevent arms being used for human rights violations.
