The Hungarian Armed Forces will have its stock of small arms replaced with arms manufactured under a Czech licence, the defence minister said in Kiskunfélegyháza, in southern Hungary, on Thursday. Czech firearms manufacturer Colt CZ Group on Thursday said it signed a joint venture agreement with Hungary’s state-owned N7 National Defence Industry Innovation Holding to establish a small arms production facility in Hungary. The firearms will be produced both for the Hungarian Armed Forces and the international market, Kristóf Szalay-Bobrovniczky said in a video posted on Facebook. The minister called the partnership a “very important step in the development of the Hungarian military and the Hungarian defence industry”. Szalay-Bobrovniczky said he firmly believed that Hungary should not just purchase equipment, but also “create an innovation platform, opportunities for innovation, jobs and generate tax revenue” in the interest of reducing its dependence on arms suppliers.