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Press Releases, 10/23/2014

Finland and Iceland seek possibilities to increase mutual trade

Press Release 236/2014
23 October 2014

Gunnar Bragi Sveinsson, Minister for Foreign Affairs and External Trade of Iceland, will visit Finland on 27 October. Together with Minister for European Affairs and Foreign Trade Lenita Toivakka, he will participate in a high-level breakfast event dealing with trade relations between Finland and Iceland.

The round table discussion will bring together Icelandic and Finnish decision-makers and corporate leaders to reflect on the possibilities for cooperation in order to increase trade between our two countries. There is potential, among others, in tourism, the energy sector, Arctic cooperation, the IT sector and in the fields of education and design.       

Finland and Iceland are highly similar with regard to corporate culture and the operating environment. The mindset in both countries is pragmatic, innovative and focused on problem-solving. Our countries’ bilateral relations are already close, thanks to Nordic cooperation. Yet in comparison to the other Nordic countries, mutual trade between Finland and Iceland is relatively modest. Iceland’s exports to Finland in 2012 totalled 9.7 million euros. By contrast, in the same year Iceland’s exports to Norway, Finland’s neighbouring country, came to 211.2 million euros. Finland’s exports to Iceland in 2013 totalled 27.3 million euros. In 2007, Finland’s exports came to double that figure, or 57.1 million euros.

Foreign Minister Sveinsson will also meet with Foreign Minister Erkki Tuomioja. The foreign ministers will discuss, among others, topical foreign policy issues such as Russia and Ukraine, Syria and Iraq, as well as Arctic questions.

Additional information: Director Maimo Henriksson, Unit for Northern Europe, tel. +358 295 351 247, Chief of Cabinet Marja Koskela, tel. +358 295 350 633, Diplomatic Adviser Katja Kalamäki, tel. +358 295 351 780, firstname.surname@formin.fi

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Updated 10/24/2014

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