Press Releases 2015

11.06.2015 17:33

Memorandum of Understanding on Defence Materiel Cooperation igned between the Saudi Arabian Ministry of Defence and Finnish Ministry of Defence

To facilitate bilateral cooperation in the field of defence materiel, a Memorandum of Understanding was signed on 11.6.2015 between the Saudi Arabian Ministry of Defence and Finnish Ministry of Defence. Permanent Secretary Arto Räty signed the document on behalf of Finland. Negotiations to sign a memorandum of understanding on defence materiel had been conducted since 2006.

The signing of the Memorandum of Understanding makes it easier for the Finnish defence industry to become active in the market of the area and, at the same time, it ensures that for example the matters that Finland considers important in export control will be taken into account.

A memorandum of understanding is a legally non-binding framework agreement which expresses the mutual understanding of the parties. Pertaining only to defence materiel cooperation, it defines the main principles and administration concerning cooperation which are agreed on.

For more information on the Memorandum of Understanding, please contact Director of Unit, Commercial Counsellor Olli Ruutu, tel. +358 295 140410.


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