Commerce Min Anand Sharma to visit Finland to boost trade ties | business | Hindustan Times
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Commerce Min Anand Sharma to visit Finland to boost trade ties

Commerce and Industry Minister Anand Sharma will lead a 15-member business delegation of FICCI to Finland later this week, with an aim to boost trade ties with the European nation.

business Updated: Mar 21, 2010 17:09 IST

Commerce and Industry Minister Anand Sharma will lead a 15-member business delegation of FICCI to Finland later this week, with an aim to boost trade ties with the European nation.

During the visit, the industry chamber Ficci will ink a strategic agreement with its Finland counterpart Finpro.

"Ficci will have a focused agenda with Finland which will be to contribute with Finish counterparts and relevant agencies to facilitate interaction and collaboration in the knowledge economy which includes R&D professional, subject experts, technicians," the chamber Secretary General Amit Mitra said.

The chamber will also work closely with partners such as Finpro to activate an interface between investors and business representatives of the public and private sectors to evolve win-win partnership, he said.

The visit of the Minister is a timely and strategic infusion of energy in the bilateral relations between India and Finland, he added.

Bilateral trade between India and Finland has doubled in the last five years and currently stands at 680 million euros. During January-December period exports was to the tune of 230 million euros while imports was 450 million euros.

As far as FDI inflows are concerned, finish firms have invested $0.17 billion in the country during 1991-2009, making Finland the 27th largest investor in India.

Finish firms like Nokia, Nokia Siemens Networks, Kone among other have manufacturing and R&D facility in India.