Business news

MINSK, 23 April (BelTA) - Belarus and Finland have the potential to increase the mutual trade substantially, Deputy Chairman of the Belarusian Chamber of Commerce and Industry Vladimir Ulakhovich said before the opening of the Belarusian-Finnish business forum, BelTA has learned.

"Trade between the two countries is modest. It was something about $161 million in 2014. Belarus is running a deficit in trade with Finland. However, the forum and the interest of the Finnish business suggest that we should balance and increase the bilateral trade because the numbers are small while the potential is big,” Vladimir Ulakhovich said.

According to him, the Finnish partners are interested in the Belarusian market as a conduit to the market of the Eurasian Economic Union. For Belarus, Finland is interesting as an important partner in terms of advancement to the Scandinavian market. “We find ourselves in the same situation: Finland tries to minimize the losses on the big market of Russia while Belarus is working to diversify its exports,” Vladimir Ulakhovich stated.

He noted that the BCCI organizes a lot of bilateral business forums with representatives of different branches. "Our Finnish partners have singled out two areas for cooperation: energy, including alternative sources, and woodworking, including paper production," Vladimir Ulakhovich informed.

For his part, Under-Secretary of State at the Finnish Ministry for Foreign Affairs Matti Anttonen said that Belarus and Finland have been developing bilateral ties and have the potential to enhance cooperation in various fields. "First of all, it is forestry. There is a substantial forestland both in Finland and in Belarus. This area is directly intertwined with energy efficiency. We can also cooperate with Belarus in alternative energy, for example, the development of peat deposits," he stated.

Matti Anttonen noted that every November Finland hosts a forum for new companies from around the world to discuss opportunities for cooperation and development. "This year, we invite Belarusian companies to participate in the event," he said.