Log in
Login
Password
Remember
Forgot password ?
Become a member for free
Sign up
Sign up
Settings
Settings
Dynamic quotes 

4-Traders Homepage  >  News

News

Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesHot NewsMost Read NewsRecomm.Business LeadersCalendar 

Government of Finland : Russia remains the most interesting but also the hardest market for Finnish comp

share with twitter share with LinkedIn share with facebook
share via e-mail
0
11/05/2012 | 02:49pm CEST

Press release 259/2012

Ministry for Foreign Affairs

5.11.2012 15.32

With a view to internationalisation plans, Russia remains the most attractive market for Finnish companies and export promotion visits made to various regions of Russia interest them. At the same time, considering the barriers to trade and investments, Russia is also the country viewed as the most problematic. The EU markets call for attention as well. These issues emerged in the survey on internationalisation plans and trade barriers directed to Finnish companies.

Minister for European Affairs and Foreign Trade Alexander Stubb is satisfied with the active feedback received from the companies.

"A growing number of small and medium-sized companies want to internationalise their operations. This is a very welcome message and I encourage companies to take advantage of the export promotion visits and other internationalisation services available. These visits are made to the markets the companies are interested in and in which assistance provided by me or some other ministers is needed due to, for example, trade barriers."

The survey on internationalisation and trade barriers, organised under Team Finland cooperation, produced 600 responses from Finnish companies. The companies reported a total of 650 wishes for export promotion destinations and some 1,200 barriers to trade and investments. Major part of the barriers (approx. 30%) concerned problems encountered in Russia. In spite of the problems, Russia is considered an interesting market, since it also emerged as the most popular destination for export promotion visits.

"It is clear that the recent accession of Russia to the WTO and the possibilities offered by the Russian markets make it an attractive market area for a growing number of Finnish companies," says Minister Stubb.

In addition to Russia, companies show special interest towards, for example, the Chinese, U.S. and Indian markets, on which Finnish companies also encounter trade barriers making operations difficult more often than average. For SMEs the European internal market offers a natural first step towards internationalisation and they consider access to public export promotion services important also within the EU market. EU countries are not totally unproblematic either, and companies reported several trade barriers encountered in them.

The survey was carried out at the initiative of the Team Finland network and the parties responsible for the practical implementation included the Ministry for Foreign Affairs, the Ministry for Employment and the Economy, Finpro, the Confederation of Finnish Industries EK, the Central Chamber of Commerce, the International Chamber of Commerce ICC, the Federation of Finnish Enterprises and the Federation of Finnish Commerce.

Objectives regarding internationalisation and information on barriers to trade can be reported to the Ministry for Foreign Affairs or other stakeholders of the Team Finland network even in the future.

Contact information: Ministry for Foreign Affairs, Ilkka Saarinen, Head of Unit for Market Access, tel. +358 9 160 56327, and Heli Siikaluoma, Commercial Counsellor, tel. +358 9 160 56528; E-mail: tradebarrier(at)formin.fi.

distributed by
share with twitter share with LinkedIn share with facebook
share via e-mail
0
React to this article
Latest news
Date Title
06:09a BURWILL : Monthly Return of Equity Issuer on Movements in Securities for the Month Ended (30/04/2016)
06:09a ASEAN ASSOCIATION OF SOUTH EAST ASIAN NATIONS : Joint Statement of the 19th ASEAN+3 Finance Ministers’ and Central Bank Governors’ Meeting, 3 May 2016, Frankfurt, Germany
06:09aDJASIAN SHARES : Most Asian Stock Markets Fall Amid Renewed Weakness in Oil
06:07a U.S. oil industry bankruptcy wave nears size of telecom bust
06:06aDJASIA MARKETS : Asian Stocks Down On Oil Woes, Slow Growth
06:05a New models boost Volvo Cars as profitability soars in first quarter
06:04a 04-MAY-2016 : Acquisition of Indiabulls Properties Investment Trust, a SGX-ST listed business trust ("IPIT")
06:04a NOC NATIONAL OIL : The Chairman of the Board of Directors Meets with the Ambassador of India
06:04a CUE ENERGY RESOURCES : Approval of 4 Yr Extension to Mahakam Hilir PSC Permit Term
06:04a FORD MOTOR : Shhhh! Ford Targets Quieter, Highly Refined Vehicles for Customers with Debut of World's First Mobile Aeroacoustic Wind Tunnel
Latest news
Advertisement
Hot News 
ROCKY MOUNTAIN DEALERSHIPS INC. (TSX : RME, OTCQX: RCKXF) announces director election results from the 2016 annual & special meeting of shareholders
Correction to Fitbit Jawbone Article on April 29
MINDBODY : reports first-quarter revenue up 44 percent
PFIZER : Maryland to receive more than $6 million from drug company settlement
GREEN DRAGON GAS : Annual Report on Website
Most Read News
05/03 Cascade Financial Services to be Acquired by an Affiliate of Centerbridge Partners, L.P.
05/03 CRAMER : Federal Regulators Have No Answer for Need for Devastating Mining Rule
05/03 Lateral Gold Announces Proposed RTO Transaction with CANHaul International
05/03 LEVI STRAUSS & CO. : Names Roy Bagattini President of Levi Strauss Americas
05/03 CREDIT CHINA : Announces Investment in BitFury, Joint venture to jointly promote Blockchain technology in China, Strengthen information security and Group's capability in Internet finance
Most recommended articles
05/03DJUBS Shares Drop As Profit Slumps
12:09aDJASIAN SHARES : Most Asian Stock Markets Fall Amid Renewed Weakness in Oil
12:07a U.S. oil industry bankruptcy wave nears size of telecom bust
12:06aDJASIA MARKETS : Asian Stocks Down On Oil Woes, Slow Growth
12:05a New models boost Volvo Cars as profitability soars in first quarter