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Business Economy

India, Finland reaffirm to cooperate on wide array of issues

New Delhi, Nov 21 (UNI) India and Finland have reaffirmed their will to continue their cooperation, in order to further expand the common ground that will reinforce the existing partnerships and create space for future opportunities.
Both sides has reiterated the useful role of the Joint Commission as a forum for strengthening economic relations between the two countries. The deliberations of the Joint Commission reaffirmed the partnership between the two countries.
The 19th Session of the India-Finland Joint Commission was held here on November 20-21. The Technical Session was held on November 20 and the Joint Commission Session on November 21.
This year marks the 70th anniversary of India - Finland diplomatic relations. Both India and Finland cooperate on a wide array of issues and as a member of EU, Finland regards India as a strategic partner for balanced and comprehensive trade relations.
The Joint Commission Session was co-chaired by Ms Nidhi Mani Tripathi, Joint Secretary, Department of Commerce, Government of India, from Indian side, and by Ms Piritta Asunmaa, Director General, Department for the Americas and Asia, Ministry for Foreign Affairs of Finland, from the Finnish side.

The Agenda for the Joint Commission Session was WTO issues, India – EU BTIA, bilateral trade and investment relations, trade barrier issues and measures to promote trade, cooperation in the sectors of power, petroleum and gas and new and renewable energy, environment.
The other issues included cleantech, science, technology and innovations, education and skill development, and labour mobility, digitalization including ICT, transportation, cooperation in the textiles sector, cultural cooperation and tourism cooperation.

Bilateral trade between India and Finland totaled USD 1.247 billion in 2014-15 and USD 1.284 billion in 2016-17. In 2016 Finnish companies have invested USD 419 million between April 2000 to July 2017. Approximately 100 Finnish companies have operations in India and about 30 Indian companies mainly in the software and consultancy sector are active in Finland.

The Finnish side invited India for the 20th session of the Joint Commission in Helsinki in 2021, according to a statement here on Thursday.

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