MFA: Finnish-Russian Intergovernmental Commission for Economic Cooperation meets in Moscow

MINISTRY FOR FOREIGN AFFAIRS
http://formin.finland.fi/english

Press release 219/2016
11 November 2016

Finnish-Russian Intergovernmental Commission for Economic Cooperation meets in Moscow

The Finnish-Russian Intergovernmental Commission for Economic Cooperation will meet in Moscow on 23 November 2016. The meeting will be chaired on the Finnish side by Minister for Foreign Trade and Development Kai Mykkänen, and on the Russian side by Deputy Prime Minister Dmitry Kozak.

The Intergovernmental Commission for Economic Cooperation aims to improve the ability of Finnish businesses to operate in Russia and to build contacts between companies.

It consists of fifteen sectoral working groups and nine regional working groups. The meeting will deal with matters relevant to  the different working groups and discuss any problems encountered by companies. The Intergovernmental Commission last met in 2013. The working groups have been pursuing their concrete technical work concerning matters in, for example, the transport sector, customs and the forest sector.

"Like the other EU Member States, Finland has continued its trade with Russia in those goods and services that are not subject to sanctions. More than 400 Finnish companies are operating in Russia, which is why it is natural for the problems encountered by them to be tackled in various groups under the Intergovernmental Commission.  The need has now arisen for a meeting led by ministers to deal with various business issues," says Minister Mykkänen.

The  grounds for lifting the EU's economic sanctions on Russia are not yet in place, because progress has not been made with the implementation of the Minsk agreements.

Trade between Finland and Russia has decreased since 2012, but Russia remains Finland's fifth most important export destination. In terms of imports, it is the third most important country. The value of Finnish investments in Russia is about EUR 11–12 billion.

Inquiries: Marja Koskela, Diplomatic Adviser to the Minister for Foreign Trade and Development, tel. +358 40 352 0463 and Vesa Häkkinen, Director, Unit for Current Affairs, tel. +358 50 317 2916.

The Foreign Ministry's email addresses are of the format firstname.lastname@formin.fi.