Minister Stubb to take a Team Finland trip to India
Press release 214/2013
8 October 2013
Minister for European Affairs and Foreign Trade Alexander Stubb will take a Team Finland trip, with an aim to promote exports and internationalisation of Finnish companies, to India on 14-18 October. He will be accompanied by a business delegation of 30 people, including representatives from such sectors as energy and environmental technology; mining, metals and construction industry; information technology; health and well-being services; and financing. The delegation was assembled by Finpro.
The purpose of the visit is to strengthen the image of Finland as a country with a high level of competence and an attractive target for investments, as well as to promote the business opportunities of Finnish companies in India.
The itinerary will include the cities of New Delhi and Mumbai. In New Delhi, Minister Stubb and the delegation will meet Minister of Commerce and Industry Anand Sharma and other Cabinet ministers. A FIND conference, bringing together Finnish and Indian companies, will also be held in the city with an aim to explore cooperation opportunities within various fields. In addition, the Minister will open the “Design Helps” exhibition, arranged by the Finnish Tikau Share association. The exhibition is continuation for a similar exhibition organised during the World Design Capital Helsinki 2012 about how innovative design and solutions act as factors enhancing well-being. In Mumbai, the Minister will meet leadership of the state of Maharashtra, management of the Central Bank of India and local business leaders.
Over the past almost ten years, the volume of trade between Finland and India has grown strongly, but is still modest considering all the opportunities available. India became Finland's third largest trading partner in Asia in 2011, when the total trade between our countries amounted to EUR 1.3 billion. However, in 2012 trade between Finland and India turned into a sharp decline, no longer amounting to more than EUR 830 million. Decline in the exports of machinery and equipment was the biggest contributor to declining exports. The decline in imports, on the other hand, was mostly caused by a collapse in the import of oil products.
The companies participating in the trade mission are: Biisafe, Biolan, BioNavis, Chempolis, Cleantech Finland, CLEEN, Commit, Comptel, Finnfund, Finnvera, Fortum, KAATO, Konecranes, Labsystems Diagnostics Group, Metso Minerals, mfore Osuuskunta, Nexetic, NSN, Outotech, Pagasor, Pemamek and Tekes, the Finnish Funding Agency for Technology and Innovation.
Additional information: Mari-Kaisa Brander, Press Attaché to the Minister, tel. +358 40 131 3388; and Sanna Halinen, Counsellor, Unit for Asia and Oceania, tel. +358 40 563 8691.