Moscow, Nov 8 (IANS): Russia's export of arms and military equipment is expected to reach $15.3 billion by the end of 2017, Russian President Vladimir Putin said on Tuesday.

"Based on the results of January to September of this year, the portfolio of orders for military-technical cooperation exceeded $45 billion. Under the 2017 plan, export deliveries will amount to $15.3 billion," Putin said at the meeting of the commission on military-technical cooperation of Russia with foreign states.

According to Putin, the economic and financial stability has been strengthened in Russian defence enterprises over the past few years, and their technological and production potential has increased, which helps to drive exports and improve their quality.

"This applies to both military and high-tech civilian products. In this regard, I would again recall the importance of diversifying the defence industry production," he said.

While looking for commercial benefits in military products, Russia always prioritizes the interest of global and regional security and stability, Putin said, adding that Russia chooses its counterparties scrupulously and closely monitors the use of equipment and weapons by its clients.

The President also warned against turning conflict zones into sources of profitable businesses and linking the "grey network" of weapons supplies to countries and regions with an unstable military and political situation.

"Arms exports are a huge responsibility for any country, and all players on the global arms market must be aware of this," Putin said.