United States and Finland Sign MoUs on Critical Minerals and Technology

Washington, Oct 29 (KUNA) — The United States and Finland signed two memoranda of understanding today, Thursday, on a framework for critical minerals and an agreement on technological prosperity, aiming to enhance cooperation between the two countries in these increasingly important fields for the economy and national security.

The U.S. Department of State said in a statement that the two memoranda were signed by U.S. Secretary of State Marco Rubio and his Finnish counterpart, Elina Valtonen, at the department’s headquarters in Washington, following a meeting held by both sides.

During the signing ceremony, Rubio described the two agreements as “great and important,” expressing his anticipation for further cooperation with Finland across various fields.

Regarding the first memorandum, the “Critical Minerals Framework,” Rubio emphasized that “minerals form the foundation of technology.” He noted that the two countries are establishing “a partnership covering diverse areas, from semiconductors and batteries to defense systems and energy infrastructure,” adding that “all these sectors rely on these minerals, and Finland, of course, possesses exceptional expertise in mining, refining, and processing, making it an ideal and vital global partner in this field.”

The second agreement, the “Technological Prosperity Agreement,” was described by Rubio as “a milestone in our current partnership on biotechnology and emerging technologies.” He pointed out that Finland has “world-class capabilities in quantum computing, communications, nuclear energy, space systems, engineering, and biotechnology,” stressing that “Finland holds leading expertise in all these areas, making it an extremely important partner for us.”

For her part, the Finnish Foreign Minister confirmed that the meeting she held with Rubio prior to the signing featured a “highly productive and constructive discussion.” Valtonen noted that economic relations between Finland and the United States “have significantly strengthened over the past decade, particularly regarding Finnish exports to the United States and Finnish companies’ investments in the U.S. economy, which have contributed to job creation and prosperity.”

She highlighted that the main areas of cooperation “include, alongside icebreaker construction, industrial products, digital connectivity, artificial intelligence, and other advanced digital technology fields.” She added that the volume of trade in goods and services between the two countries “has grown by more than 60 percent in recent years, and direct U.S. investments in Finland have doubled.”

Valtonen considered that the continuously growing security and defense relations between the two countries “have further strengthened economic ties.”

In this context, the U.S. Department of State issued a statement regarding the meeting between Rubio and Valtonen, which was held “to enhance economic and security cooperation between the United States and Finland.” The statement indicated that the two ministers emphasized “the importance of cooperation on critical minerals and the continuation of investments in the defense sector.” (End) R.R. / M.M. J.G.