The Saudi-Finland Joint Committee Discussed Boosting Trade and Investment Cooperation in various fields

08 May 2018
The second session of the Saudi-Finnish Joint Committee concluded its meetings in Riyadh. The Saudi side was headed by H.E. MCI Undersecretary of Foreign Trade, Mr.  Abdulrahman bin Ahmed Al Harbi, while the Finnish side was headed by the Undersecretary of the Ministry of Economic Affairs and Operation, Mr. Petri Peltonen. The session was attended by representatives of government and private sectors in both countries.

The two sides discussed the promotion of trade exchange between the Kingdom of Saudi Arabia and Finland. They stressed the importance of the joint committee for enhancing the bilateral relations in various fields for serving the interests of the two countries such as the economic, political, cultural, educational and health.

Meanwhile, H.E. Al-Harbi, confirmed that the two sides agreed to adopt a number of recommendations and proposals to activate the cooperation in various sectors, as discussed by the Joint Committee. He pointed out the desire of the two parties to enhance the bilateral relations in the economic, political and cultural fields through joint projects and investments, as well as through encouraging the mutual visits and the participation in various events in both countries. Mr. Al Harbi pointed out that the two sides agreed to participate and cooperate in the investment sectors, which have special priority, such as mining and petrochemicals, as well as investing in the special economic zones.

For his part, Mr. Petri Peltonen, expressed the Finnish Government's desire to boost and promote the bilateral relations in various fields.

The Joint Saudi-Finnish Committee agreed on the promotion of trade and investment activities by exchanging business delegations and participating in the exhibitions held in both countries. Both sides also discussed the opportunities available in the investment sectors, which have top priority, such as education, drug & food, clean & renewable energy and vocational training.

Both sides also discussed the activation of the memorandum of understanding signed between the Finnish Chamber of Commerce and the Council of Saudi Chambers, besides developing practical programs to promote and boost the bilateral trade and investment relations between the two countries, in addition to calling on the businessmen in both countries to increase the volume of exports to the Finnish and Saudi markets.

Notably, the volume of trade exchange between Saudi Arabia and the Republic of Finland in 2016 reached $ (431) million dollars.

Last Modified 25 Dec 2018