MFA: Finnish-Russian Intergovernmental Commission for Economic Cooperation to meet in Helsinki

The Intergovernmental Commission for Economic Cooperation aims to support business operations and to build contacts between Finnish and Russian companies. The Commission consists of sectoral and regional working groups. The previous meeting of the Commission was held in St Petersburg in 2018. However, the Commission’s co-chairs met this summer in connection with the St. Petersburg International Economic Forum.

The Commission’s working groups are an important channel for cooperation between Finnish and Russian authorities. The working groups have also continued their cooperation via remote connections during the coronavirus epidemic. Concrete cooperation takes place in the transport, energy and forest industry sectors.

“The work of the Intergovernmental Commission for Economic Cooperation is important for Finnish companies operating in Russia, and it is also a key channel for cooperation between the authorities. I am pleased that we can organise the meeting in Helsinki this year. I look forward to the discussion with Minister Manturov, especially on opportunities for cooperation in the forest sector. We also have a separate meeting with Finnish and Russian companies,” Minister Skinnari says. “Our important partners in this meeting are the Finnish-Russian Chamber of Commerce and East Office.”

Minister of Economic Affairs Mika Lintilä will also meet Minister Manturov in connection with the Commission’s meeting. They will discuss topical themes related to the Commission’s working groups, which are managed by the Ministry of Economic Affairs and Employment.

“Finnish companies have a lot of expertise in the bioeconomy, circular economy and energy technology, and I believe that through cooperation with the Commission we can further increase our trade and economic cooperation. Finland and Russia have common goals in improving energy efficiency and reducing emissions, for example,” Lintilä says.

More than 900 Finnish companies are currently established in Russia, and the value of Finnish investments in the country totals approximately EUR 15 billion. Russia is the third most important destination for Finnish exports and the second largest country of origin for Finnish imports. Trade with Russia is subject to both the economic and sectoral sanctions imposed by the EU and Russia’s counter-sanctions. Due to the illegal annexation of Crimea and the conflict in Eastern Ukraine, the EU’s sanctions against Russia are still in place.

Inquiries:
Juha Niemi, Diplomatic Adviser to the Minister for Development Cooperation and Foreign Trade, tel. +358 295 350 232 and Mikko Kivikoski, Deputy Director General of the Department for Russia, Eastern Europe and Central Asia, tel. +358 295 350 773

Nina Alatalo, Adviser to the Minister of Economic Affairs (EU and International Affairs), tel. +358 295 047 171

The email addresses of the Ministry for Foreign Affairs are in the format firstname.lastname@formin.fi