President of Ukraine Volodymyr Zelenskyy has announced the creation of the Defense Industries Alliance.

"An alliance that values international law and is capable of working for the real protection of international law. Protection of security – I'm talking not only about Ukraine, but also about the security of any nation in the world from aggression," he said while opening the First International Defense Industries Forum in Kyiv on Saturday.

"We have drawn up a corresponding basic declaration as the foundation of this alliance, and manufacturers of weapons and military equipment from all over the world who share our intention to provide real protection from aggression in this high-risk environment of our time can join it. Today, at its inception, 13 prominent companies have already signed this declaration, showing their readiness to build a new arsenal of the free world alongside Ukraine," the president said.

Ukraine is developing a special economic regime for the defense-industrial complex "to give all the opportunities to realize their potential to every company that works for the sake of defense," Zelenskyy said.

He also noted that Ukraine will establish "a special Defense Fund, which will provide additional resources, including for the development of military production and support of relevant collaborations, for the creation of new military facilities and programs needed to ensure defense."

According to the head of state, "the fund's resources will be an addition to the state's expenditures on defense, defense production, and private investments. The fund will be replenished through dividends from state-owned defense assets and profits from the sale of confiscated Russian assets."

Ukraine is interested in "localizing the production of equipment – so necessary for our defense – and each of those cutting-edge defense systems used by our warriors, which are delivering the best results for Ukraine on the frontline today," he said.

"This kind of collaboration – in the production of weapons, equipment, and ammunition – is already being negotiated with our partners," Zelenskyy said.

He welcomed welcome all businesses that are ready "to build the arsenal of the free world together with Ukraine and in Ukraine. A modern and powerful arsenal that will leave no chance for any aggressor."

The president stressed that "everything that serves our defense can serve – and very successfully – the defense of our partners. This is how we are laying the foundation for the arsenal of the free world."

"Right now, for the next decades, the most powerful defense-industrial complexes are being determined, what their priorities will be, and what the standard of defense in the world will be. It is being determined precisely in Ukraine," Zelenskyy said.