Minister Väyrynen: Finnish companies have opportunities for brisk growth in Azerbaijan

Press release 380/2008
9 October, 2008

Minister for Foreign Trade and Development Paavo Väyrynen stated during his export promotion trip to Azerbaijan that he considers Azerbaijan to be a significant and growing cooperation partner for Finnish business. The minister believes that Azerbaijan’s economic policy, which is open to internationalisation, offers Finnish companies good opportunities for operations.

“Azerbaijan has a genuine wish to cooperate with foreign companies, and Finns should be active participants in this. We can offer, for instance, the world’s best innovations in telecommunications, clean environment technology, conservation and efficient use of energy, and sustainable forestry. On the basis of the discussions I had, I am convinced that there are opportunities for brisk growth in our trade and economic cooperation,” the minister said.

Minister Väyrynen considered the timing of his trip to be optimal because Azerbaijan has recently striven to diversify its economy and to reduce its dependence on income from oil and natural gas. He pointed out that cooperation can also make use of development policy instruments, as Azerbaijan is listed within the scope of countries entitled to public development aid.

Aside from talks with Minister of Economic Development Heydar Babayev of Azerbaijan, during his two-day visit Minister Väyrynen met with the ministers for industry and energy, ecology and natural resources, communications and information technology, and the minister for health. In addition, Väyrynen met with President Ilham Aliyev. A Finnish-Azerbaijani business forum was held in conjunction with the visit. Minister Väyrynen was accompanied by a a delegation of about 25 representatives of Finnish companies and civil service.

Additional information: Päivi Nevala, Adviser to the Minister for Foreign Trade and Development, mobile tel. +358 40 753 4375, and Ambassador Petri Salo, mobile tel. +358 40 568 7932