Finland, China sign trade, investment deals

Finland and China on Wednesday signed a number of agreements and memoranda of understanding during the visit of Chinese President Xi Jinping to Helsinki with the view to boost exports and investment between the countries.

Ministry of Economic Affairs and Employment Permanent Secretary Jari Gustafsson hosted the signing ceremony in Helsinki, the aim of which was to advance and promote Finnish exports and job-creating foreign investment in Finland at a practical level, said an official press release.

A number of new agreements on cooperation involving Chinese and Finnish businesses and public sector organisations were signed at the ceremony.

“The range of agreements on cooperation signed says a lot about the way in which the Finnish and Chinese economies are complementary to each other, and about how Chinese investors have discovered Finland at last. What makes Finland interesting to the Chinese is its potential as a product development hub, based on our high level of competence and innovation, and the country’s position as a gateway to the European market. For Finns, China’s expanding middle class and transformation into an ever more consumer-driven economy offers opportunities to do business, for instance in tourism, winter sports and the food industry,” said Gustafsson.

At the ceremony, greetings from the Chinese government were conveyed by Sun Liwei, economic and commercial counsellor at the Chinese embassy. As a result of sustained efforts by different ministries, Finpro, Tekes – the Finnish Funding Agency for Innovation, and others, doors were opened to cooperation in new fields.

“I am very pleased that we have been able to sign several memoranda of understanding with our Chinese partners, which will further strengthen trade relations between our two countries in many areas. For example, we are seeking to combine the financial strength of the Chinese market and Finnish innovative enterprises, to build air routes between Finland and East China as well as work together to explore opportunities in the education, bioeconomy, cleantech and ICT sectors,” said Finpro CEO Markus Suomi.

The meeting also included the release of a memorandum of understanding signed on closer cooperation between China’s Ministry of Science and Technology and Tekes. Tekes Director General Pekka Soini released the MoU.

“We believe that this new memorandum of understanding will strengthen our cooperation and lead to win-win projects and new business concepts, especially in IoT, medical science, smart and flexible energy, and intelligent transportation, including MaaS, Mobility as a Service. We would also like to start together new development platforms which drive future business, solving big social and environmental challenges, for example preparing for the Beijing Olympics in 2022,” said Pekka Soini.

The signing of the agreements was timed to coincide with the state visit of Chinese President Xi Jinping. In connection with the meeting of the two presidents, the opportunity was taken to deepen cooperation between China’s Ministry of Commerce and Finland’s Ministry of Economic Affairs and Employment. In the presence of the two country’s presidents, Economic Affairs Minister Mika Lintilä and Chinese Commerce Minister Zhong Shan signed a joint statement establishing a Committee for Innovative Business Cooperation for promoting cooperation between Finnish and Chinese companies.

The agreements and memoranda of understanding signed at the event were an agreement on strategic cooperation programme between Finpro and China Development Bank, an agreement on collaborative conservation and research of Giant Panda between China Wildlife Conservation Association and Finland Ähtäri Zoo, a cooperation agreement among China Development Bank, Boreal Bioref Ltd, and China CAMC Engineering Co. Ltd (CAMCE), a contract agreement between Boreal Bioref Ltd and CAMCE, a strategic cooperation memorandum between China Development Bank and Sunshine Kaidi-Finland, a memorandum of understanding between Finpro Oy and JuneYao Group, a letter of intent between Valio and Mille related to possible business relationship in baby food solutions, a letter of intent between Visedo Oy and Beijing Capital Investment, a strategic cooperation agreement between Jokerit Hockey Club (Finland) and HC Beijing Kunlun Red Star.

Some other documents signed in advance were also announced at the ceremony. The documents were a memorandum of understanding for China-Finland Science & Technology Innovation Cooperation between the Department of International Cooperation of the Ministry of Science and Technology of China and Tekes, the Finnish funding agency for innovation, a memorandum of understanding on scientific cooperation between Universities Finland (UNIFI) and the Chinese Academy of Social Sciences, a protocol of phytosanitary requirements for the export of oats from Finland to China between the General Administration of Quality Supervision, Inspection and Quarantine of China and the Ministry of Agriculture and Forestry of Finland, and a memorandum of understanding on cooperation between Finpro and the China Council for Promotion of International Trade.