October 22nd, 2012
10:02 AM GMT
Share this on:

Despite rising fuel costs, one sector that is not witnessing a downturn is defense. Rising tensions over Iran and growing security concerns are not only driving regional governments to boost their weaponry but are forcing them to boost protection as well.

The Middle East spent $111 billion on defense in 2011 and one company that wants to tap into that market is the Streit group, a Canadian company that is using the Middle East's strategic location to boost its growth.

Guerman Goutorov, chairman and founder of the Streit Group, began his quest from the garage of his home in Canada.


Filed under: Along the silk roadBusiness

About Business 360

CNN International's business anchors and correspondents get to grips with the issues affecting world business, and they want your questions and feedback.

Powered by WordPress.com VIP