Inaugurating the four-day biennial International Defence Exhibition and Seminar (IDEAS) 2014 here, Sharif said that a modern, well-equipped and properly trained military is a necessary requirement for defending Pakistan's sovereignty and territorial integrity and combating terrorism.
The exhibition has over 2,000 weapon systems on display with Russia making its first appearance at the event this year, signalling improvement in defence cooperation between the two countries.
136 international and 34 Pakistani companies are taking part in the event.
The prime minister also said it was heartening to see Pakistan had an enterprising and vibrant defence sector which had created a special place for itself despite limited resources.
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"When resources were hurdled, our designers relied on innovation. Our endeavour was to consistently improve upon the basis technologies employed in a weapon system and to give it added dimensions and capabilities," the premier said.
"I take this opportunity to note with satisfaction that IDEAS has emerged as a major defence industry show in the region," he said.
Meanwhile, Pakistan's Federal Minister for Defence Production, Rana Tanvir Hussain said that his country wants friendly relations with all regional and neighboring countries, including India.
He said there were issues with India, like Kashmir and water, but Pakistan wants to resolve these matters through negotiations.