Al-Ouda: Reliable Economic Relations Are Strategic Assets Amid Geopolitical Changes
A Finnish economic delegation explores opportunities to strengthen ties with Kuwait at the Kuwait Chamber of Commerce and Industry
Mustonen: Kuwait is a key partner, and cooperation opportunities go beyond traditional trade
Sirjala: Moving from acquaintance to building practical, actionable partnerships
An economic delegation from the Republic of Finland, led by Yarno Sirjala, Deputy Minister and Undersecretary of the Ministry for Foreign Affairs for International Trade, explored ways to develop economic and commercial relations with the State of Kuwait and to identify new opportunities for cooperation and investment between the business sectors of the two countries. This took place during the delegation’s visit to the Kuwait Chamber of Commerce and Industry yesterday, with the participation of nine Finnish companies representing various specialized economic and technological sectors. The meeting was attended by Firas Al-Awada, Assistant General Manager of the Kuwait Chamber of Commerce and Industry, and Juha Mustonen, Ambassador of Finland to the State of Qatar.
At the outset of the meeting, Assistant General Manager Firas Al-Awada emphasized that geopolitical developments are now having direct repercussions on governments and business sectors, particularly regarding investment decisions, supply chain management, and the selection of partners and markets. This has made diverse and reliable economic relations a strategic asset for both states and companies.
Al-Awada noted that Kuwait and Finland share stable relations and a common commitment to dialogue and long-term development, providing a suitable foundation for building a broader economic partnership. He pointed out that the latest trade data reflect positive momentum in economic ties between the two countries, with total bilateral goods trade recording annual growth of approximately 27.5% in 2024.
He clarified that the significance of this growth lies not only in the rate of increase but also in the demonstrated interest and potential for expandable commercial opportunities. He stressed that the next phase requires channeling this momentum into a sustainable path by diversifying exchanged products and services, expanding the base of participating companies, and enhancing market access for businesses in both countries.
Al-Awada highlighted that the nature of the Finnish delegation represents a practical starting point in this direction, particularly given the advanced expertise of Finnish companies in cybersecurity, secure communications, critical infrastructure protection, advanced engineering, and specialized industrial solutions. These areas are gaining increasing importance in Kuwait as it seeks to strengthen economic security, modernize its infrastructure, diversify its economy, and expand its technology-based sectors.
He emphasized that effective economic cooperation should not be limited to trade exchange but requires a long-term model based on joint investment, technology and knowledge transfer, vocational training and qualification, local maintenance and technical support services, and the development of after-sales services.
Al-Awada concluded by reaffirming the Kuwait Chamber of Commerce and Industry’s commitment to supporting initiatives that enhance economic relations between Kuwait and Finland, expressing hope that the meeting would yield clear practical opportunities and defined steps to build upon in the coming period.
For his part, Yarno Sirjala, Deputy Minister and Undersecretary of the Ministry for Foreign Affairs for International Trade in Finland, stressed the importance of the visit in strengthening direct communication between the Finnish and Kuwaiti business communities. He noted that successful economic relations are not built on commercial opportunities alone, but on mutual trust, which forms the foundation from which Finland builds its economic ties with various countries.
Sirjala clarified that the delegation includes Finnish companies operating in diverse sectors, reflecting his country’s desire to expand cooperation areas with Kuwait and not confine economic relations to a single sector. He emphasized the importance of moving from the stage of acquaintance and showcasing capabilities to building practical partnerships and executable projects that serve the interests of both sides.
He noted that Finland possesses an economic system heavily reliant on knowledge, research and development, and innovation, with a growing presence of startups, deep-tech firms, and digital solutions, alongside advanced expertise in clean energy, health, industrial technologies, cybersecurity, and telecommunications, which opens up multiple avenues for cooperation with the Kuwaiti market.
He pointed out that economic relations between the two countries have the foundations for growth, particularly given Finnish companies’ interest in markets that offer opportunities for expansion and long-term partnerships. He stressed the importance of direct communication between companies and economic institutions to identify the actual needs of the Kuwaiti market and explore solutions that Finnish companies can provide.
For his part, the Finnish Ambassador to Qatar, Juha Mustonen, emphasized the importance of the visit in enhancing Finland’s economic presence in the region. He noted that engaging with the Kuwait Chamber of Commerce and Industry and the Kuwaiti business sector presents an opportunity to directly identify market needs and available cooperation opportunities.
Mustonen explained that Finnish companies possess specialized expertise that can contribute to several areas prioritized in modern economies, particularly technology, innovation, digital transformation, cybersecurity, energy, sustainable solutions, and infrastructure. He affirmed that developing economic relations requires establishing continuous communication channels between companies and relevant authorities in both countries.
He added that Finland views international cooperation as a means to exchange expertise and technology and create shared value, expressing his hope that direct meetings between Finnish and Kuwaiti companies will help translate mutual interest into new projects and partnerships.
