Minister Lehtomäki to the economic commission meeting in Moscow

Press release 87/2005
14 March, 2005


Minister for Foreign Trade and Development Paula Lehtomäki will visit Moscow on 17-18 March to attend the eighth meeting of the Finnish-Russian Economic Commission. The Russian co-chair of the commission is German Gref, Minister of Economic Development and Trade.

The agenda of the meeting includes energy, transport, customs and forestry as well as hands-on trade issues. In connection with the EU-Russia cooperation the meeting will address the preparations for a joint economic area.

Russian debt to Finland and cooperation in the innovation sector will also be discussed. "Russians have shown great interest in the Finnish innovation system. It is our intention to find concrete measures to promote cooperation between our countries", says Minister Lehtomäki. "We are currently charting the Finnish and Russian players in the technology and innovation sectors and we are particularly looking for feasible projects in the SME sector."

During her visit Minister Lehtomäki will familiarise herself with the present situation of Finnish companies and investments in Moscow. The minister is scheduled to visit Stockmann and IKEA in Moscow.

"The economic commission will provide an opportunity to get an update on the trade balance between Finland and Russia and to discuss any hitches", says Minister Lehtomäki. "The significance of Russia in our foreign trade is increasing fast. Last year Finnish exports to Russia increased by 25 per cent and imports nearly as much."

Russia has become Finland's third most important export destination after Sweden and Germany and Russian imports are only exceeded by German imports. Finland is Russia's fourth largest trading partner among the EU countries.

Further information: First Secretary Marja Liivala, Unit for Russia, tel. 09 1605 5652, Special Advisor to the Minister Satu Mäki, tel. 040 829 3298, and Press Attaché to the Minister Anna Tonttila, tel. 09 1605 5356

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