Finland and Iran signed a Memorandum of Understanding on energy cooperation

Ministry for Foreign AffairsMinistry of Economic Affairs and Employment 26.10.2016 15.59
Press release

Finland and Iran signed a Memorandum of Understanding on cooperation in the energy sector in connection with President Sauli Niinistö's official visit to the country. The Memorandum of Understanding was signed by Kai Mykkänen, Minister for Foreign Trade and Development, authorised by Minister of Economic Affairs Olli Rehn.

In Finland the Memorandum of Understanding was prepared by the Ministry of Economic Affairs and Employment together with relevant energy industry operators.

The aim of the document is to develop technical and economic energy sector cooperation between Finland and Iran and promote the access of Finnish companies to Iran's opening markets.

The focus is on developing cooperation on renewable energy and technologies that improve energy efficiency. Iranian efforts to improve energy efficiency include the renewal of the outdated infrastructure, improving the operations of energy plants, and a more efficient electricity distribution network. Iran is also committed to increasing the supply of renewable energy and looks for solutions to more environmentally-friendly treatment and use of waste as energy source. Finland has solutions to offer to this kind of challenges.

Besides promoting trade and investments between the countries and mapping the financing opportunities, the cooperation includes visits by experts. Practical cooperation efforts in working groups facilitate the networking of companies and authorities and planning of joint projects.

Inquiries:
Hannu Väänänen, Special Adviser to the Minister of Economic Affairs, tel. +358 50 410 4909
Pasi Rajala, Special Adviser to the Minister for Foreign Trade and Development, tel. +358 40 046 4393
Mari Hakkarainen, Ministerial Adviser, Ministry of Economic Affairs and Employment, tel. +358 50 434 4933