Russia will export up to $10bn worth of arms annually over the coming years, according to the country’s state arms regulator.

Head of the state service responsible for overseeing military contacts Mikhail Dmitriyev said the stock of orders has kept growing.

“It has reached impressive figures that will allow Russia to retain its military exports at the level of $9-$10bn for the next few years,” Dmitriyev said.

Over $8.5bn worth arms were sold in 2009, including $7.4bn via state arms exporter Rosobornexport, which is a 10% increase on the previous year, according to RIA Novosti.

Russia’s current arms orders amount to a total of $34bn, according to Dmitriyev.

Key customers for Russian arms exports include India, Algeria, China, Venezuela, Malaysia and Syria.

Prime Minister Vladimir Putin intends to ensure copyright protection of Russian weapons, as well as supply the Russian Army and Navy with spare parts and modern arms according to RIA Novosti.