The member states of the North Atlantic Treaty Organisation (NATO) have committed to ramping up their defence spending, affirming an "ironclad commitment" for their collective defence by investing 5 per cent of their country's GDP annually on "core defence requirements" as well as defence- and security-related sectors by 2035 as outlined in The Hague Summit Declaration.

As per the declaration, released on Wednesday following the summit, the 32 Heads of State and Government of the military alliance resolved to bolster its military capabilities, particularly the long-term threat posed by Russia and the persistent challenge of terrorism, while reaffirming the transatlantic bond and collective defence principles.

"We the Heads of State and Government of the North Atlantic Alliance, have gathered in The Hague to reaffirm our commitment to NATO, the strongest Alliance in history, and to the transatlantic bond. We reaffirm our ironclad commitment to collective defence as enshrined in Article 5 of the Washington Treaty - that an attack on one is an attack on all. We remain united and steadfast in our resolve to protect our one billion citizens, defend the Alliance, and safeguard our freedom and democracy," the declaration stated.