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France, Egypt poised to sign multi-billion-euro fighter jet deal

France, Egypt poised to sign multi-billion-euro fighter jet deal

PanARMENIAN.Net - France and Egypt are poised to sign a multi-billion-euro deal for the first foreign sale of the Rafale fighter jet despite human rights concerns, AFP reports.

French Defence Minister Jean-Yves Le Drian was to travel to Cairo Monday, Feb 16, to ink the 5.2-billion-euro ($5.9 billion) deal for 24 Rafale fighters that Paris hopes will prompt others to snap up its premier combat jet.

French President Francois Hollande said the agreement -- clinched in only three months of negotiation -- provided Cairo with "a quality aircraft" and was important for Egypt "taking into account the threats existing around the country."

With Libya wracked by instability to the west and the threat from Islamic State-linked militants to the east, Egypt plays a key role in providing stability in a troubled region, French Foreign Minister Laurent Fabius said on Sunday.

France is also hoping the deal will act as a catalyst to unblock hoped-for sales to other countries.

Eric Trappier, chief executive of Dassault Aviation, which manufactures the jet, said he was "very confident" that three years of exclusive talks with India on the sale of 126 Rafale jets worth 12 billion euros would soon result in a deal.

He said talks were slow as Delhi wanted some of the jets manufactured at home in a bid to boost manufacturing, meaning that every nut and bolt had to be discussed.

Paris is also eyeing possible deals with Qatar and Malaysia.

"It is probable that this will have a positive impact on other prospects... but we have to be cautious," Fabius told reporters on Sunday.

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