Sweden and United States agree bilateral technology cooperation

The memorandum of understanding – referred to as the Technology Prosperity Deal – has been drafted to build on complementary strengths and mutual interests in new technology and innovation. It involves numerous shared opportunities, including improved access to cutting-edge technology, greater market penetration and closer cooperation with the business sector, as well as extended opportunities for exchanges in research and innovation.

“Ultimately, this is about strengthening our competitiveness and safeguarding our commercial interests. Sweden is ranked as one of the most innovative and creative countries in the world, a position achieved thanks to the hard work of many people. We want to make sure that their efforts are rewarded and create the best possible conditions for Swedish companies to continue leading the way in the development of future technologies,” says Ms Malmer Stenergard.

The technology cooperation involves no legal or financial commitments. It is a political declaration of intent to strengthen ties in strategic areas that contribute to our mutual prosperity and competitiveness. The United States has previously entered into similar forms of cooperation with the United Kingdom, Japan and South Korea.

“Sweden has long and extensive relations with the US. This technology cooperation is a testimony to Sweden’s innovation and cutting-edge technological expertise, and reaffirms our position as a valuable partner,” concludes Ms Malmer Stenergard.