16 Apr 12. Iraq is hosting its first arms fair, replete with warplanes, tanks, missiles and telecommunications gear, since the 2003 fall of Saddam Hussein. Baghdad allocated $14.6bn, or about 15 percent of the budget, to security in 2012, second only to energy which takes up 20 percent as the country seeks to develop its oil sector and fix a chronic electricity shortage. A pavilion at the Baghdad fairgrounds is hosting 40 companies from 13 countries, mainly from South Korea, China, Turkey and Bulgaria, for three days beginning April 15, amid tight security measures. Almost all Western countries are absent from the expo. South Korea and China are showcasing a full range of military equipment, from weapons of all calibers and military vehicles to communications, uniforms and riot gear. (Source: Defense News)