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BRUSSELS, Belgium (AP) - Twenty-two European Union nations have signed up to a voluntary code designed to open the 25-nation bloc's 30 billion euro ($39 billion) arms industry to increased cross-border competition, the European armaments agency said Monday.
Only Spain and Hungary have notified the EU they will not take part in the "code of conduct" on defense purchases, scheduled to come into force on July 1, the agency said. Denmark decided in the early 1990s not to participate in the EU's defense and security policy and has a general opt-out from some EU defense operations.
Defense equipment contracts will be posted on an electronic bulletin board, which will be operated by the defense agency and set transparent criteria for selecting bidders and awarding contracts.
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