Finnish–Saudi-Arabian Joint Economic Commission convened in Helsinki

Ministry of Economic Affairs and Employment 24.5.2017 11.00
Press release

The Finnish–Saudi-Arabian Joint Economic Commission convened in Helsinki 22–23 May 2017. The development of the countries’ economic relations was broadly discussed during the meeting. Apart from cooperation in the fields of education, health and wellbeing, which has been actively developed over the recent years, there were discussions on such topics as energy and energy efficiency, mining and geology, transport and communication, environment and bioeconomy, food and agriculture, as well as labour policies and tourism.

The convention was chaired by Under-Secretary of State Petri Peltonen from the Ministry of Economic Affairs and Employment, and Deputy Minister Abdulrahman Al-Harbi from the Saudi-Arabian Ministry of Commerce and Investment.

In the joint conclusion statement of the meeting, Finland and Saudi Arabia state that the bilateral economic, commercial and investment relations between these countries should be strengthened. Both sides highlighted that the Joint Commission will act as a platform for joint projects and collaboration initiatives and for networking public authorities, companies and organizations from both countries.

– Finland and Saudi Arabia both have strengths that complement each other. This opens up new business opportunities for companies of all sizes in both countries. We are committed to further developing this partnership and promoting bilateral commercial relations and investments, Peltonen states.

– We believe that Finland, being one of the most transparent and competitive economies in the world, has a lot to offer foreign investors. We would happily welcome more Saudi-Arabian investments in Finland, Peltonen notes.

Both sides urge sectoral ministries, official organizations and private companies to develop direct contacts and to explore possible collaboration activities in the areas of mutual interest that were discussed in Helsinki. Information on results will be documented in a joint action plan, and the progress of collaboration activities will be reported every six months. The next meeting will be held in 2018 in the Kingdom of Saudi Arabia.

During his visit to Helsinki on 22–23 May, Deputy Minister Abdulrahman also met Finland’s Minister for Foreign Trade and Development Kai Mykkänen, and the delegation was also introduced to the energy-industry expertise of Wärtsilä, Fortum, and Helen.

More information:

Under-Secretary of State Petri Peltonen, MEAE, tel. +358 50 626 63