RIYADH: Jarno Syrjala, Finland’s under-secretary of state for external economic relations, has highlighted that his country’s exports to the Kingdom stand at about €350 million annually, and added that more could be done to boost economic cooperation in information and communications technology, tourism and shared know-how.
Syrjala was speaking on the sidelines of the eighth edition of the Future Investment Initiative, and added that in terms of trade relations between Saudi Arabia and Finland “the current situation is very good for both countries.”
Syrjala told Arab News that there had been “steady growth, but at the same time we are still at very low levels.”
He added: “I want both countries to be more ambitious when we do trade.
“When we look at the trade statistics, that’s only part of the truth. When we talk about the whole economic partnership between Saudi and Finland we need to also do more when it comes to investments.”
The under-secretary shared that Finland’s exports to the Kingdom are worth about €350 million annually, and admitted: “It’s not that much.”
He added that “Saudi exports to Finland are even less.”
He said: “If we look only at the trade figures, there has been steady growth during the last few years and especially after the COVID-19 era.”
Outside of trading goods and services, he expressed the hope that tourism will also pick up in the future.
He underlined that there are economic exchanges that would help to benefit both countries, while stressing that in services such as ICT and cybersecurity, there was room for a lot more cooperation.
He said: “(The) ICT sector, cybersecurity solutions, and so, that’s services, basically, not so tangible products or goods changing place. But ICT is a good example where it’s not only about goods.”
Another area for possible cooperation highlighted by the under-secretary was the health sector.
He said: “We produce health technology, health-related technology. There are digital solutions for that area available as well.
“Education has been there also for a long time. And that’s not only cooperation between companies or different school institutions, but it’s very important for people to have people contacts as well.”
The under-secretary was in Riyadh for the FII and to hold high-level ministerial meetings. He also “wanted to see it with his own eyes and be there.”
He added: “This event brings together people from different areas. So, there are the decision-makers, politicians, investors, professionals, visionaries.
“It’s a fascinating combination, I think, and so I wanted to see it with my own eyes. We had some Finnish companies, of course, participating.”
Nokia was among the many notable Finnish companies taking part in FII and Syrjala expressed the hope that FII will raise awareness about what kind of opportunities exist for cooperation.
He said: “We want to show what kind of new companies we have in Finland, also the traditional ones.”
Syrjala explained that he had visited several ministries and it was important that they continued to communicate.
He said: “What I have been emphasizing is the importance of visits, for example from different ministries, different sectors, so that we can really show to the private sector that the support for their businesses is there.
“There is a wide spectrum of areas the sectors can work together on.”
He highlighted that Vision 2030 will add to the opportunities for the two nations to further cooperate on modern and high-tech solutions.
