UK executives traveled to Ukraine with a view of creating joint ventures there that would produce weapons and vehicles locally under license, the report said.
In addition, the newspaper reported that other European defense companies are also negotiating with Kiev on the issue, and that UK companies do not want to lose to French and German competitors.
A British executive said there is a race to put the UK “at the front of the queue,” the newspaper said.
Ukraine used to produce some types of Israeli and US small arms, such as rifles, under license, and adapted some of its tanks to incorporate Israeli electronics, the newspaper added.
According to the media, Kiev would like to produce Western-designed artillery, vehicles and weapons itself rather than buy them.
Since the beginning of Russia's special military operation in Ukraine, Western countries have been supplying Kiev with various types of weapon systems, including air defense missiles, multiple launch rocket systems, tanks, self-propelled artillery and anti-aircraft guns.