Ukraine's Ukroboronservice State Company controlled by the state-owned concern Ukroboronprom, will produce, together with Aeroscraft, a U.S. company, small arms under NATO standards in Ukraine, Ukroboronprom said on its website on Tuesday.

The respective agreements materialized in the form of a memorandum of cooperation.

"The automatic rifle M16 of the WAC47 type will be first weapon manufactured in Ukraine under a pilot project. Manufacture of weapons under the NATO standard is an important part of the developing and reforming of the Ukrainian defense industry complex," the Ukroboronprom press service quotes Ukroboronservice CEO Serhiy Mykytiuk as saying.

Ukraine's transition to international standards of NATO is part of the strategy of reforming and developing the Ukrainian defense industry, Ukroboronprom Deputy General Director Volodymyr Korobov said.