Minister Väyrynen: Growth opportunities for Finnish companies in Karelia

Press Release 250/2010
7 September 2010

Minister for Foreign Trade and Development Paavo Väyrynen, who is making an export promotion trip to Petrozavodsk and Sortavala on 7–8 September, sees much investment potential for Finnish companies in the Karelian region.

“About 40 companies are already registered in the Republic of Karelia and Finland tops the foreign investment statistics. There would be potential for growth, for instance, in our central cooperation sector, the forest industry, where alongside traditional operating modes there are many possibilities for further development, for example, in the wood-building sector,” Minister Väyrynen stated.

Minister Väyrynen pointed out that the wish to cooperate is strong. In evidence of this, the minister is accompanied on his trip by an extensive and diverse Finnish business delegation, the intention being to survey investment and networking opportunities and to familiarize themselves with Finnish business already operating in the region, such as the Rapala and Stora Enso plants.

“The neighbouring area cooperation carried out now for 20 years has laid the foundation for good cooperation. In recent years, economic cooperation has been named a sector of priority, and this is promoted through many projects in various fields. Examples to mention include the EuroRussia Forum, which aims through public and private sector cooperation to improve the operating and investment preconditions for SMEs in Northwest Russia,” Minister Väyrynen explained.

When meeting representatives of the local administration, Minister Väyrynen also pointed out the importance of joint efforts aiming to improve the operating environment for business, make border traffic smoother and remove trade barriers.

Additional information: Hanna Saarni, Press Attaché to the Minister for Foreign Trade and Development, mobile tel. +358 400 739 824, and Head of Unit Jaana Teckenberg, mobile tel. +358 40 754 2419