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Finland invests over $100m in Belarus

Staff writer |
Finland's direct investments into the Belarusian economy have totaled more than $100 million over the last five years, Alexander Fedorchuk, Director General of the Minsk Office of the Chamber of Commerce and Industry (BCCI), said during a meeting with Finnish businessmen.

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"In the last five years Finnish enterprises have invested over $100 million into the Belarusian economy, including $24 million in 2013. It is important to note that, as of today, 25 Finnish companies have taken advantage of bilateral cooperation and set up joint enterprises in Belarus. But still it is not enough. We should continue developing our cooperation," Alexander Fedorchuk said. BelTA reports.

Mr. Fedorchuk noted the intensive development of relations between Belarus and Finland. The trade in goods between the two countries in 2013 reached $256 million, and the export and import were almost equal for both states.

Simo Paivinen, Head of the Kouvola Innovation Center, said that a group of businessmen from south-eastern Finland is visiting Belarus for the first time.

"This business trip is of great importance and interest to us. We expect to get fruitful results, establish a dialogue, and strengthen our cooperation. I have also come to Belarus for the first time and I want to say that Minsk is a very clean and comfortable city, which is a good sign for business. The first impression is extremely important, and our first impression is very positive," said Mr. Paivinen.

Belarus' export to Finland is dominated by oil products, unalloyed steel wire and bars, down and fur, products from ferrous metals, women's upper garment, car transmission gears, equipment, and transportation vehicles. Belarus imports coated paper and board, loading vehicles, equipment for agriculture, gardening, and forestry, wood pulp, resin acids, etc.

Belarus and Finland have established the Finnish-Belarusian Chamber of Commerce and the Finnish-Belarusian Trade Association that operate in Finland.

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