Minister Väyrynen: Finland must increase input into markets of the Middle East and North Africa
Press Release 240/2010
31 August 2010
Minister for Foreign Trade and Development Paavo Väyrynen calls for industry and business to step up their activity to invigorate trade with the Middle East and North Africa.
“The area should have a stronger presence and networks enabling long-term cooperation should be created among both local and Finnish actors. I hope that things will progress from thoughts to action, and that industry circles will establish a network to promote industrial and business goals and to maintain contacts with the foreign service, in order to increase exports.”
Minister Väyrynen pointed out that the MENA area, i.e. the area of the Middle East and North Africa, is traditionally an important export target for Finland. He mentioned, for instance, that in 2008 export to the MENA area accounted for 5 per cent of Finland’s total exports and 90 per cent of the trade balance surplus. In comparison to many of our competitor countries, however, export has collapsed in the last few years.
“Reasons for the poor result can be sought from both the poor recognition of Finland’s brand and the weakness of long-term, comprehensive cooperation in export promotion carried out with business and industry,” Minister Väyrynen said, giving some of the reasons for the downturn of the past few years.
Despite the challenging nature and partly also the instability of the area, the Minister considers the MENA area to be very important with regard to increased exportation.
“It can be accepted that economic growth in the Middle East and North Africa will remain higher than the average for the world economy. Finnish companies have much to offer especially in promoting energy efficiency, environment-friendly energy production, development of renewable energy and in water supply and sanitation,” Minister Väyrynen stated, listing export opportunities for Finnish businesses.
In the Minister’s view, alongside networking between business and industry and other actors, polishing the brand of Finland’s products also plays a central role. He cautioned that there is no reason to sink into self-satisfaction over Newsweek’s flattering assessments that ranked Finland’s society was ranked as the world’s best; instead, we must invest in making Finnish products considered the world’s best.
The Minister spoke today at the MENA and I Seminar organized by the Ministry for Foreign Affairs, where the business opportunities available to Finnish companies in the Middle East, North Africa and the Persian Gulf were discussed.
Additional information: Head of Unit Helena Tuuri, Department for Africa and the Middle East, tel. +358 9 160 56538 or mobile tel. +358 40 553 3494; or Hanna Saarni, Press Attaché to the Minister for Foreign Trade and Development, mobile tel. +358 400 739 824