Finland-KSA nuke deal enters into force in June

The government on Wednesday issued a Decree that implemented the agreement concluded by Finland with Saudi Arabia on the peaceful use of nuclear energy and the provisions thereon entered in the Act.

The Act and the Decree enter into force on 3 June 2017, said a government press release.

Saudi Arabia is planning to invest in the production of nuclear energy. Finland has many-sided expertise in the field of nuclear energy, which can be utilised in Saudi Arabia in projects associated with nuclear energy and its development. Through the agreement, the legal preconditions for cooperation are agreed.

Neither Finland nor even the European Atomic Energy Community (Euratom) has had a cooperation agreement with Saudi Arabia on the peaceful use of nuclear energy. Finland held negotiations on the agreement in 2014–2015, and the agreement between the countries was signed on 8 September 2015.

The Parliament of Finland approved the government proposal on the matter in the spring of 2017, and the President of the Republic approved the Agreement and ratified the bill on 7 April 2017.

Finland is a party to all of the international nuclear conventions relevant to Finland. Bilateral agreements promote cooperation between Finland and the country party to the agreement on the use of nuclear energy in research, the transfer of equipment, technology and nuclear materials between the two countries, and in the promotion of nuclear and radiation safety.

Finland has recently concluded bilateral cooperation agreements in the field of nuclear energy also with South Korea and Russia. In addition, through membership of Euratom, Finland is a party to cooperation agreements concluded with third countries.