KL set to buy

KL set to buy Russian jets

KUALA LUMPUR (AFP): Malaysia announced yesterday it was ready to sign a pact with Russia for the purchase of 18 MiG-29 fighter jets with payment in cash and palm oil, saying negotiations with Moscow were near completion.

"The negotiations on the MiGs are in the final stages," Malaysia's Defense Minister Najib Tun Razak said after talks with visiting Russian Deputy Foreign Minister Alexander Panov at his office here.

"We're confident of reaching an agreement in a matter of days," Najib told reporters, adding that the signing for the purchase would take place "when the Russians decide to come down to sign."

A defense official, however, said the agreement could be formalized by next month.