7th November, 2002
Ministry of Commerce & Industry  


INDIAN EXPORTS TO FINLAND UP BY 28%

RUDY MEETS FINALAND TRADE MINISTER


Indian exports to Finland have registered an increase of 28% in the financial year 2001-02. In order to enhance the bilateral commercial and economic relations, 13th meeting of the Indo-Finnish Joint Commission is taking place in New Delhi on 11th November, 2002. This was indicated by Shri Rajiv Pratap Rudy, Minister of State for Commerce and Industry, when he called on Mr. Jari Vilen, Minister for Foreign Trade of Finland, here today. Shri S.N. Menon, Additional Secretary, Department of Commerce, was present in the meeting along with senior officials of Ministry of External Affairs and Department of Industrial Policy & Promotion.

Shri Rudy apprised the visiting Minister about the economic reforms India has initiated over the last decade and expressed the need to enhance the current level of bilateral trade which was about US $ 250 million. He indicated that India was willing to have joint ventures with Finland in the area of Drugs & Pharmaceucticals, Information Technology, Food Processing, Marine Products, Marble & Tiles and Cut & Polished Diamonds. Shri Rudy informed that India was actively participating in all the elements of the Doha Work Programme and said that it was important that a due attention be paid by WTO members to the development-focus of the Doha mandate.

The visiting Minister said that his country view India as an enormous hub for regional activities for Finland companies. He informed that Finland had best expertise in sectors of Energy, Environment Protection, Information & Communication Technology and Health Care. Finland has 25 to 30% global market share of mobile phones, 75% in meteorological equipments and 25% in metal detectors. Regarding WTO, he said that Finland shared India’s concerns and commitment towards Doha negotiations. He also indicated that Finland had excellent opportunities for film industry and invited Indian film industry to take advantage of the same. During the meeting, he pointed out that the frequency of direct flights between the two countries be raised, as there were very few direct flights available. The Indian Minister assured him that he would take up this issue with the Ministry concerned.

The major items of Indian exports are RGM cotton accessories, machineries, leather, electronic goods, pharmaceuticals etc. The major items of Indian imports include electronic goods, machineries, newsprint, computer software etc. The 12th meeting of the Joint Commission was held in Helsinki in June 2000.

 
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