Finland on Monday was signing an agreement with Nordic countries that defines the overall framework and procedures for joint procurement of defense items.

The agreement is related to the agreement last year between Denmark, Finland, Norway and Sweden to cooperate in the defense materiel area and addresses the need for development of cost-efficiency, security of delivery and enhanced implementation of joint procurement.

The signing was taking place at the Nordic Defense Industry Seminar in Helsinki -- it runs from Monday to Wednesday -- and an exhibition of products by Nordic defense industry companies.

The Finnish Ministry of Defense said Raimo Jyvasjarvi, director general of the ministry's Resource Policy Department, will sign the agreement on Finland's behalf.