Finland's Ministry of Defence and Ministry of Economic Affairs and Employment have agreed to deepen their cooperation on the development of the country's defence industry.
According to Finland's Ministry of Defence, the new cooperation memorandum responds to the changed security environment and creates a foundation for the ministries' continued actions. The cooperation is intended to strengthen the operating conditions for the domestic defence industry, support companies' growth and internationalisation, and safeguard security of supply. Research, development and innovation activities, as well as dual-use technology, are described as key priorities.
"The defence industry is also important for Finland in terms of economic growth. Our domestic companies have good commercial opportunities on the international market, and the goal is to strengthen exports and support companies' growth as part of a broader industrial policy," says Timo Jaatinen, Permanent Secretary at Finland's Ministry of Economic Affairs and Employment.
According to the Ministry of Defence, Finland's NATO membership, closer European defence cooperation, and increased defence spending are opening up new opportunities for Finnish companies on the international market.
The Ministry of Defence is responsible for defence policy and procurement, while the Ministry of Economic Affairs and Employment is responsible for industrial, innovation and technology policy, as well as the governance of financing and development bodies. Cooperation between the ministries is being strengthened in particular when it comes to supporting companies and directing funding, according to the Ministry of Defence.
"A changing world requires us to combine the strengths of defence and industrial policy and create growth together. Through cooperation between the Ministry of Defence and the Ministry of Economic Affairs and Employment, we are creating the conditions for Finnish companies to increase their expertise, strengthen security of supply, and succeed on the international market," says Janne Kuusela, Permanent Secretary at Finland's Ministry of Defence.