Budapest Post

Cum Deo pro Patria et Libertate
Budapest, Europe and world news

Saudi Arabia, Finland to Establish 1st Joint Business Council

Saudi Arabia, Finland to Establish 1st Joint Business Council

The Federation of Saudi Chambers and the Finland Chamber of Commerce signed on Friday a memorandum of understanding (MoU) in Helsinki to establish a joint Saudi-Finnish Business Council.
Under the MoU, the Council will carry out commercial and promotional activities systematically in the field of trade and investment, while focusing on the targeted sectors in the economic cooperation agenda.

It will also focus on developing new areas of economic cooperation, promoting links between the Saudi and Finnish business sectors and exchanging information on available markets and investment opportunities.

The Federation also signed an MoU with the government program, Business Finland, which is specialized in financing and promoting trade and investment in Finland.

The MoU seeks to ensure bilateral cooperation in the field of promoting bilateral trade and investment, particularly in technology, digitalization, energy, circular economy, mining, transport and logistics services, health care and water sectors.

The agreements are expected to reflect positively on the role played by the two countries’ business sectors and increase their joint economic activities in a way that supports the development of their trade exchanges.

Meanwhile, a delegation of 27 representatives of Saudi companies in various economic sectors held intensive talks and meetings with the Finnish business sector to explore the available trade and investment cooperation opportunities and establish commercial partnerships.

The volume of trade exchange between the Kingdom and Finland amounted to about SAR1.9 billion in 2021, of which SAR37 million ($10 million) are Saudi exports.

Saudi Arabia’s Minister of Commerce and Chairman of the General Authority for Foreign Trade Dr. Majid al-Qasabi has recently underscored the importance of bolstering economic partnership and expanding and diversifying bilateral trade, which is estimated at $645 million annually.

He also called for benefiting from Finland’s leadership in research and development, education and training, start-ups, innovation and other sectors.

Qasabi arrived in Helsinki heading a high-level Saudi delegation to participate in the activities of the forum organized by the Business Finland program, in cooperation with the Federation of Saudi Chambers.

He said that since Vision 2030, the Kingdom’s economy has been transforming into a global commercial and logistical hub by taking advantage of its geographic location and potentials that are currently being developed in light of the National Strategy for Transport and Logistics Services.
AI Disclaimer: An advanced artificial intelligence (AI) system generated the content of this page on its own. This innovative technology conducts extensive research from a variety of reliable sources, performs rigorous fact-checking and verification, cleans up and balances biased or manipulated content, and presents a minimal factual summary that is just enough yet essential for you to function as an informed and educated citizen. Please keep in mind, however, that this system is an evolving technology, and as a result, the article may contain accidental inaccuracies or errors. We urge you to help us improve our site by reporting any inaccuracies you find using the "Contact Us" link at the bottom of this page. Your helpful feedback helps us improve our system and deliver more precise content. When you find an article of interest here, please look for the full and extensive coverage of this topic in traditional news sources, as they are written by professional journalists that we try to support, not replace. We appreciate your understanding and assistance.
Newsletter

Related Articles

0:00
0:00
Close
Intel Reports Revenue Beats but Sees 81% Rise in Losses
Politics is a good business: Barack Obama’s Reported Net Worth Growth, 1990–2025
UN's Top Court Declares Environmental Protection a Legal Obligation Under International Law
"Crazy Thing": OpenAI's Sam Altman Warns Of AI Voice Fraud Crisis In Banking
The Podcaster Who Accidentally Revealed He Earns Over $10 Million a Year
UK Government Considers Dropping Demand for Apple Encryption Backdoor
Japanese Man Discovers Family Connection Through DNA Testing After Decades of Separation
Russia Signals Openness to Ukraine Peace Talks Amid Escalating Drone Warfare
Switzerland Implements Ban on Mammography Screening
Pogacar Extends Dominance with Stage Fifteen Triumph at Tour de France
President Trump Diagnosed with Chronic Venous Insufficiency After Leg Swelling
CEO Resigns Amid Controversy Over Relationship with HR Executive
NVIDIA Achieves $4 Trillion Valuation Amid AI Demand
Tulsi Gabbard Unveils Evidence Alleging Political Manipulation of Intelligence During Trump Administration
Centrist Criticism of von der Leyen Resurfaces as she Survives EU Confidence Vote
Trump Announces Coca-Cola to Shift to Cane Sugar in U.S. Production
FIFA Pressured to Rethink World Cup Calendar Due to Climate Change
Zelensky Reshuffles Cabinet to Win Support at Home and in Washington
"Can You Hit Moscow?" Trump Asked Zelensky To Make Putin "Feel The Pain"
Church of England Removes 1991 Sexuality Guidelines from Clergy Selection
Superman Franchise Achieves Success with Latest Release
Hungary's Viktor Orban Rejects Agreements on Illegal Migration
Air India Pilot’s Mental Health Records Under Scrutiny
Jamie Dimon Warns Europe Is Losing Global Competitiveness and Flags Market Complacency
Moonshot AI Unveils Kimi K2: A New Open-Source AI Model
Martha Wells Says Humanity Still Far from True Artificial Intelligence
Nvidia Becomes World’s First Four‑Trillion‑Dollar Company Amid AI Boom
EU Delays Retaliatory Tariffs Amid New U.S. Threats on Imports
Trump Proposes Supplying Arms to Ukraine Through NATO Allies
US Opens First Rare Earth Mine in Over 70 Years in Wyoming
Bitcoin Reaches New Milestone of $116,000
Severe Heatwave Claims 2,300 Lives Across Europe
Declining Beer Consumption Signals Cultural Shift in Germany
Emails Leaked: How Passenger Luggage Became a Side Income for Airport Workers
Polish MEP: “Dear Leftists - China is laughing at you, Russia is laughing, India is laughing”
Western Europe Records Hottest June on Record
BRICS Expands Membership with Indonesia and Ten New Partner Countries
Elon Musk Founds a Party Following a Poll on X: "You Wanted It – You Got It!"
China’s Central Bank Consults European Peers on Low-Rate Strategies
France Requests Airlines to Cut Flights at Paris Airports Amid Planned Air Traffic Controller Strike
Poland Implements Border Checks Amid Growing Migration Tensions
Emirates Airline Expands Market Share with New $20 Million Campaign
Amazon Reaches Milestone with Deployment of One Millionth Robot
Yulia Putintseva Calls for Spectator Ejection at Wimbledon Over Safety Concerns
House Oversight Committee Subpoenas Former Jill Biden Aide Amid Investigation into Alleged Concealment of President Biden's Cognitive Health
Amazon Reaches Major Automation Milestone with Over One Million Robots
Extreme Heat Wave Sweeps Across Europe, Hitting Record Temperatures
Meta Announces Formation of Ambitious AI Unit, Meta Superintelligence Labs
Robots Compete in Football Tournament in China Amid Injuries
China Unveils Miniature Insect-Like Surveillance Drone
×