The following was contributed by Finland’s Ambassador Pekka Wuoristo on the occasion of his country’s National Day. ― Ed.
In the past 37 years since the establishment of diplomatic ties, the relationship between Finland and the Republic of Korea has witnessed favorable development. We value highly the cooperation we have so far had with the Republic of Korea and we express our keen interest and strong commitment in further deepening of the bilateral cooperation between the two countries.
We have seen our bilateral trade developing positively and economies getting more and more intertwined. Common interests bring us closer to each other. Republic of Korea is our third biggest trading partner in Asia.
Already 30 Finnish companies have established themselves in Korea and more than 150 Finnish enterprises are represented in the market.
Our trade exchange reflects combined strengths in the fields of machinery, electrical and transport equipments. The trade volumes are likely to mount over 1 billion euros this year, already a second year in a row.
The trade with Korea is expected to expand far beyond this number in the near future.
Both the Republic of Korea and Finland are open economies which have benefited from globalization.
Nevertheless, we are not isolated from turbulence in our global economic environment. Due to recent global recession, our bilateral trade volume decreased slightly.
Thanks to strong entrepreneurship and determination, the trade figures are picking up again and I am confident that there is excellent potential for expansion and deepening of our economic ties into new sectors.
We are approaching a new, important era in our trade relations: the free trade agreement between the EU and the Republic of Korea will offer entirely new opportunities for businesses on both sides.
Finland was a strong advocate of the agreement when the negotiations were going on and we are very pleased that agreement has been accomplished.
I am convinced it will lead to increased trade and investments in both Finland and Korea. It is now up to the companies to take full advantage of the FTA, for which our governments will provide full support.
Trade is a two-way avenue at its best. Whereas the Republic of Korea is an attractive trade and investment destination for Finnish businesses, I wish to encourage Korean enterprises to take a close look at Finland as an investment destination and find out the benefits and opportunities.
Finland is one of the best performing and most open economies in the world.
The high standard of education, environmental awareness, considerable investment into research and development and advanced information society have brought Finnish private sector into the forefront in adopting new technologies and culture of innovation.
This is certainly something that Korean companies could benefit through joint projects and cooperation with Finnish partners.
Direct flights by Finnair between Finland and Korea pave the way for further expansion of tourism and co-operation.
I’m particularly happy that Finland is emerging as one of the tourist destinations for Korean travelers, too.
