France & Sweden, a renewed strategic partnership for a common future

A Franco-Swedish collaboration stronger than ever  

This partnership is part of a broader effort to increase cooperation between France and Sweden, its first foundations built in 2017 in Göteborg. Three main areas of concern articulate this document and are meant to embody this convergence.

The first one mentioned being a concerted intensification of efforts on tackling climate change, followed by improving the mastery of new technologies. The last focuses on building a stable, solid, reliable defence strategy. This global roadmap has been selected to develop more targeted objectives to be achieved jointly.

A lasting transformation of society

The sustainable development of the economy and industries is important to both countries. To engage in a green transition free from fossil fuels, France and Sweden will cooperate further on deploying low-carbon energy systems. As members of the European Nuclear Alliance, France and Sweden’s leaders underline the opportunities nuclear power offers. President Emmanuel Macron announced that nuclear power would be tripled to meet the EU’s climate neutrality target by 2050. The expansion of renewable energies such as solar energy or wind power is also part of this partnership, highlighted by the construction of Sweden’s largest solar farm (90-100 MW) decided by the French companies Neoen and Bouygues Construction together with Alight and Solkompaniet, Swedish companies.

Through cross-investment, France and Sweden also plan to accelerate the transition to electric transport, with battery production as a primary concern. A first step has been taken with the signing of an agreement between Neoen and E.On for the construction of the Isbillen Power Reserve, the largest battery in Sweden (94 MW/94MWh). Hydrogen is another essential part of the energy mix needed to replace fossil fuels. For example, Airbus, SAS, Swedavia, Avinor, and Vattenfall have signed a cooperation agreement on hydrogen ecosystems and infrastructure at Scandinavian airports.

Ultimately, France and Sweden recognised forestry as a major component of reducing global warming. They intend to prioritise a bioeconomy by supporting forest renewal, with a view to sustainable management and preserving biodiversity, optimising the use of wood resources and supporting the sector’s competitiveness.

A digital transformation enabled by innovation and research

The bilateral partnership also extends to technology industries, including projects in AI, high-speed connectivity, the deployment of 5G and 6G technologies, cyber security, and more. Apart from enhancing both countries’ competitiveness in developing alternatives to American tech giants, digital transformation tools are considered a significant contribution to accelerating the greening of the economy.

Ultimately, this partnership seeks to provide trusted, high-performance, sovereign digital solutions to enable innovation for both countries. Sweden and France are two innovative countries that can rely on thriving ecosystems. In 2022, the highest R&D spending among the EU Member States was recorded in Sweden (3.40%), and France ranked 2nd in Europe for patent applications at the EPO. Together, they wish to assert a clear commitment to science and knowledge by developing a favourable environment for accelerating research and training. Fostering the emergence of new projects is key to showing that both countries have capabilities that can be multiplied when combined.

Both countries will also increase their collaboration in the space industry as it can provide crucial information for understanding the impact of climate change. The CNES and SNSA signed a letter of intent to launch stratospheric balloons.

Building competitive and resilient economies

President Emmanuel Macron and Prime Minister Ulf Kristersson reaffirmed their idea of a common European military effort. Both countries plan to increase the production of equipment and ammunition and share their resources and decisions towards implementing a concerted war economy. MBDA and SAAB have signed a strategic partnership agreement on the anti-tank weapon system to initiate this action. With Sweden’s accession to NATO closer than ever, both countries are willing to reduce their dependency and increase their sovereignty to build tomorrow’s security climate.

Bilateral exchanges will also be organised on health and life sciences as health is a priority for both countries, with over 11% of GDP devoted to health in France and 11.9% in Sweden1. To strengthen the EU’s capabilities and resilience, Bordeaux University Hospital and Sahlgrenska University Hospital expressed their intention to collaborate further on good practices in the hospital sector.

A strategic partnership to work together for a shared future

France and Sweden benefit from powerful historical ties but also powerful future visions. The Franco-Swedish successful and long-lasting cooperation is driven by common aspirations regarding environmental protection, innovation and defence. The ability of the two nations to look jointly forward is embodied in this partnership and will be achieved by building numerous bridges between various industries. Numerous cooperation agreements have been signed between French and Swedish companies during the State Visit in areas targeted by the strategic partnership, highlighting the synergies between the two countries.

The strategic areas of this partnership are not new, as they align with the objectives set out in France’s 2030 investment plan. With a €54 million budget, France 2030 is defined by two cross-cutting objectives: 50% of this spending will be devoted to decarbonising the economy, and 50% to emerging players who are driving innovation without environmentally unfavourable spending.

Please contact us if you are willing to nurture the Franco-Swedish cooperation with an investment project in France.