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Multilateral trading framework with Finland

Jan '07
India and Finland have expressed great satisfaction at the strong economic ties between the two countries and expressed hope that the relations would gain further momentum.

Speaking at the Business Luncheon Meeting with the President of Finland Ms. Tarja Halonen, here, Shri Kamal Nath, Union Minister of Commerce & Industry, also sought Finland's help in voicing the concerns of India and the developing world in the Doha negotiations.

The Finnish President agreed that in multilateral trading framework, trade has to be not only free but also fair. The meeting was organised jointly by CII, FICCI and Assocham.

The Minister recalled his visit to Helsinki in October 2006 for the India-EU Summit held under the Finnish Presidency and appreciated the efforts of Finnish leadership for the successful outcome of the Summit. The Summit decided that India and EU should move towards negotiations for a broad based trade and investment agreement.

Earlier, Mr. Mauri Pekkarinen, Minister of Trade and Industry of Finland, offered Finland's help to India in areas of infrastructure, environment technology and power.

The total exports from India to Finland in 2005-06 were US $ 202 million and imports were US $ 580 million.In 2004-05, the Indian exports were US $ 144 million while imports were US $ 389 million.

Major items of export to Finland include readymade garments, drugs & pharmaceuticals and machinery and instruments while major importitems are machinery except electronics and electrical, electronic goods and computer software.

Press Information Bureau

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