​​Saudi Arabia signed the Convention on economic and technical cooperation with the Republic of Finland's in 1976 in Jeddah, this agreement is still valid.

Negotiations between Saudi Arabia and Finland have been launched on the promotion and protection of investment between the two countries in December 9th, 2001 in Riyadh. Another round of talks was held in 2006,. A second and so far the last round was held in Helsinki during the period from January the 8th  to January the 11th, 2007.

The two countries signed a memorandum of understanding on bilateral political consultations between the Ministry of Foreign Affairs of the Kingdom of Saudi Arabia and the Ministry of Foreign Affairs of Finland, in the city of Jeddah on the 23rd of October 2007.

The Minister of Foreign Trade of Finland Mr. / Jari Velin, visited Saudi Arabia October 2002  accompanied by a delegation of Finnish businessmen. He held talks with His Excellency the Saudi Minister of Trade, and His Highness the President of the General Investment Authority in the Kingdom, and with members of the Chambers of Commerce and Industry in Jeddah and Riyadh, and has extended an invitation to each of His Excellency the Minister of Commerce and His Highness the President of the General Investment Authority to visit Finland as well as the number of members of chambers of commerce and industry in the Kingdom, to promote trade relations between the two countries and the granting of Saudi businessmen a good opportunity to get information on the markets of Finland.

The former President of the Republic of Finland Ms. Tarja Halonen visited the Kingdom in October 2007 accompanied by a large group of Finnish businessmen and heads of universities and directors. She extended the invitations official to the Custodian of the Two Holy Mosques King Abdullah bin Abdul Aziz Al-Saud, may God preserve him, and to His Royal Highness Prince Sultan bin Abdul Aziz Al Saud, former Crown Prince (God rest his soul), Deputy Prime Minister and Minister of Defense and Aviation and Inspector General, to visit Finland.​