TODAY.AZ / Business

Finland eyes boosting trade turnover with Azerbaijan

18 February 2020 [14:26] - TODAY.AZ

By Trend


Finland hopes to diversify and increase bilateral trade further with Azerbaijan, Päivi Peltokoski, Director, Unit for Eastern Europe and Central Asia, Ministry for Foreign Affairs of Finland told Trend.

"There is plenty of unused potential in our trade relations and we hope to diversify and increase our bilateral trade further with Azerbaijan. Finland has a lot to offer as Azerbaijan is seeking to diversify its economy away from the dominant oil and gas sector," she said.

Peltokoski noted that as Finland is one of the greenest countries in the world, it is in a perfect position to drive sustainable development globally.

" For Finland, a circular bioeconomy is a tool for achieving sustainable development, combatting climate change, saving natural resources, and improving the state of the environment, all while generating economic growth and jobs," said the director.

Peltokoski went on to add that Finland is also pleased about a Twinning project led by the Finnish Meteorological Institute developing the Environmental Monitoring System in Azerbaijan.

"This joint project enables us to develop bilateral relations in environmental and cleantech sectors. Finnish experts would be interested in participating in further Twinning projects. In the future, we would also like to see further use of the EU’s TAIEX instrument to conduct short-term technical assistance visits between Finland and Azerbaijan," she said.

As for potential spheres of cooperation, the director said Finland can share its knowhow in education, construction, biotechnology, bioeconomy and digitalization.

"Finland scores at or near the top of international rankings of competitiveness; of environment for business growth; and of quality of life. The key driver for Finland’s success is education. As an export-oriented country with top-level basic research and highest engineers per capita, Finland has leading technology companies. In addition to manufacture and paper industry, we offer energy efficiency and cleantech solutions. We can share our knowhow in education, construction, biotechnology, bioeconomy and digitalization. It is fair to say that Finland offers many solutions for a sustainable society," she said.

Peltokoski also touched upon the prospects for exchange in ports industry between Azerbaijan and Finland.

"If Baku aspires to become a leading transport hub in the greater region, functioning air, land, and sea transport components are all needed. Finland has large companies in ports logistics and shipbuilding industries. We have a long history and thorough understanding of delivering smart and environmentally friendly high-tech maritime solutions," she said.

The director went on to add that harbors are one the Finnish maritime industry’s core strengths.

"As all ports in Finland freeze during the coldest months of the year, we have exceptional knowhow in operating in extreme environments. Our internationally known maritime network's expertise ranges from the likes of icebreakers and ice going vessels, to cruise ships and offshore solutions as well as port technology. Finland is riding the wave of digitalization in the field of maritime. Finnish companies are changing the maritime industry with their digital skills," she concluded.

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