Our Bureau

Bangalore , Feb. 5

The EU-India Business Summit will open up new vistas for further strengthening strategic business relationship with India, Ms Paula Lehtomaki, Minister for Foreign Trade and Development, Finland, has said.

Addressing a press conference here, Ms Lehtomaki said new business potential for Finnish products and servicescould be found in wireless mobile communications, bio-technology, energy and power generation, particularly in the non-conventional energy sector.

The summit, to be held in Helsinki next year, would assume importance in the wake of Finland taking over theEU Presidency next year.

Ms Lehtomaki, who favours trade ties assuming more proactive shape in the form of more FDI, said, "I encourage more direct investment both ways".

Though Finland is represented by over 100 companies in India in a variety of sectors, India has made a modest beginning with only five or six companies havinga presence in that country in the last two years. All of them are in the IT sector.

The Finnish Minister, who is heading a large business delegation, met the Karnataka Chief Minister, Mr N. Dharam Singh, and had discussions with the Finnish companies located in Bangalore. She also attended a seminar organised by the Bangalore Chamber of Commerce and Industry. The Finnish delegation will also visit Mumbai and Delhi.

On her impressions about Karnataka, Ms Lehtomaki said the State had common identify with Finland inasmuch as the emphasis on technology and quality higher education, which has earned Finland special recognition by the United Nations as the "technologically most advanced country in the world".

Finland, which enjoys a favourable balance of trade, exported good and services worth Euro 200 million as against India's exports of Euro 95 million during the first 10 months of the current fiscal, marking an increase of 24 per cent for Finland and 17 per cent for India.

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