Turkey is in the process of finalizing a $15.5 billion aid package that it hopes will secure its entry into the BRICS bloc of emerging economies.
The deal includes 50 new fighter jets, according to an announcement by Prime Minister Ahmet Davutoglu on Thursday.
The jets, which will be made in Turkey, are expected to be delivered in 2020.
Turkey has a huge backlog of military equipment in its warehouses, with over $50 billion worth of equipment sitting in its country’s warehouses.
The BRICS nations will hold their summit in Brazil in November.
The summit in that country, along with a host of other international events, will mark the first BRICS summit in more than five years.
Turkey’s purchase of the new jets will allow it to boost its defense spending and its export capacity, which has been hampered by a downturn in the Russian economy.
The prime minister said that Turkey will have the ability to deliver the new aircraft to other BRICS countries.
In addition, the purchase of 50 new fighters will help Turkey get the country into the bloc of the BRICs countries that include India, Brazil, Russia, China and South Africa.
The announcement came just weeks after Turkey’s state-owned oil giant, Naftogaz, announced it would purchase 40 F-16 fighter jets from Brazil, which is a member of the Russian-led Customs Union.
Naftozas purchasing spree is part of a broader trend in the world of military purchases.
The world is in a state of a transition in the past decade that saw a massive influx of military technology to the developing world.
However, as technology advances and more countries invest in their military capabilities, many countries have been struggling to meet the increased requirements.
Brazil is one of the largest and most advanced military exporters in the region, with more than $3.2 trillion in sales over the past five years, according the World Bank.
Russia is also the second-largest military exporter in the BRC after the United States.
The World Bank estimated in 2017 that Brazil was the second largest military expender in the country, behind only China.
The purchase of new fighter aircraft will help strengthen the countrys military capabilities.
The Prime Minister’s announcement comes just weeks ahead of the International Monetary Fund’s (IMF) World Economic Forum in Washington, D.C., in September 2020.