Breaking news
Finland, Saudi Arabia sign Memorandum of Understanding on Defence Materiel Cooperation 31206153.
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Defence & Security News - Finland / Saudi Arabia
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| Finland, Saudi Arabia sign Memorandum of Understanding on Defence Materiel Cooperation | |||
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To facilitate bilateral cooperation in the field of defence materiel, a Memorandum of Understanding was signed on June 6, 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.
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 Saudi Arabia selected Patria NEMO mortar turret for its LAV-II armoured vehicle (here NEMO turret on a Patria AMV) |
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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. In autumn 2010, the Finnish defence products company Patria signed a major arms deal regarding 36 Nemo 120 mm mortar system with Saudi Arabia. Until now, it is the only deal concluded between Finland and Saudi Arabia. |
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