China and business opportunities embraced by Finland
“The world is confronting new and unprecedented challenges, as displayed by the present economic turmoil but also long-term issues and Finland want to use ASEM to address these challenges, including in particular the environment,” Antti Kuosmanen, ambassador of Finland told China Daily, before the expected visit of President Tarja Halonen at the Asia-Europe Meeting.
As leader of the Finnish delegation, visiting President Halonen met President Hu Jintao on 23rd October for bilateral discussions on Sino-Finnish relations and international issues.
He said, “Finland attaches great importance to the ASEM process in all its aspects, including the political, economic and people-to-people dimensions.”
“The relations between Finland and China are excellent, and that fact was proved also by the presidents the moment they met. The political dialogue between us is varied and refers to all issues. We cooperate in many fields, such as the building of rule of law in China,” Kuosmanen said.
Finland, with Norway, Denmark and Sweden, was among the first Western countries to recognize the People’s Republic of China when it did so on January 13, 1950.
“Since China started the policy of reform and opening up to the world, it has been expanding relations particular in the field of economy. That is still going on today.” Kuosmanen said.
Extensive economic ties
He noted the economic ties between the two countries have become very extensive both in the fields of trade, investment and technology.
“Apart from being our largest trading partner in Asia, China is among the largest in the world. Finnish enterprises have largely invested in China.” He said, adding that almost 300 Finnish-owned companies investing in China.
Moreover, Finnish companies have set up factories in China producing goods both for the Chinese and international markets. He said he hoped that there will also be more Chinese investment in Finland, making use of the strengths that Finland can provide.
Touching on the current international financial crisis, which affects the EU and the US, he said he was sure that China’s fast development, also affected by the crisis would last and that there would be more Finnish enterprises in China.
“The financial crisis, started in the US, is proof of the inter-independence among different countries and regions of the world. Our own financial institutions are on a sound footing and no government intervention has been needed to sustain them.” Kuosmanen said.
Finnish companies in China have set up operations mainly to supply their overseas customers, but also increasingly to service their Chinese clients.
He said, “However, it is obvious that as the financial crisis in other nations spreads to the ‘real’ economy, our companies, in Finland, in China or in other nations, will also be affected.”
Trade ties flash back almost as far as diplomatic connections. Early in 1952, in order to promote trade relations between the two countries, a commercial section was opened by the Embassy of Finland, and in 1953 the first trade and payment agreements between the People’s Republic of China and a Western country was concluded.
Environmental efforts
Finnish companies can offer products, services and technology that can help China tackle its environmental challenges. The environment is a particular bright area for further economic cooperation.
“For solving China’s environmental challenges, environmental technology is crucial. And we want to promote that for technological cooperation between us.” he said.
Examples of cooperation consist of future network technologies, living lab concepts and environmentally sound digital cooperation concepts, known as EcoDigiCity and EcoCity.
Cooperation on the China-Finland Nanotechnology Strategic Mutual Cooperation Initiative that was signed in January 2007 has started between the two countries, and over 30 project proposals and expressions of interest have been gathered so far.
He said, “Finland is already China’s largest trade partner among the Nordic countries. Promoting cooperation to find more energy-efficient and more environmentally friendly solutions has mutual benefit for both sides.”
“Looking back on the impacts of China’s reforms and opening-up policies,” he added, “for Finland, China’s emergence as a major economic power has been a great bonus, as the two countries’ trade and investment relations testify.” The potential to further expand and intensify those relations grows as China grows, so China’s success is in Finland’s interest as well.
The ascent of China and other emerging powers naturally entails adjustment on the parts of all countries. The ambassador said, “Our aim is to make that adjustment peacefully, by strengthening the rules-based multilateral system in a mutually beneficial way.”
Policies welcomed
“We welcome China’s reform and opening-up policies which has pursued for 30 years. It is those policies that have put peaceful development and the patient building up of better lives for your citizens at the top of your national priorities that are the cause for China’s rise. We hope that China will continue on this path, and we are glad that this is indeed the declared intention of your leaders.”
Finland was still placed high among European countries in terms of economic growth and employment, although it suffered for many years from a severe economic recession in the early 1990s, according to a survey.
Education is an outstanding element among the indicators measured. Therefore, more cultural exchanges and academic contacts between the two countries are expected from both sides in the future.
He said that ASEM’s strength is its wide and ongoing process. It is not limited to state leaders. The dialog between and among experts, business representatives, and non-governmental organizations is of importance as well.
Are you interested in the business opportunities in China?
China is one of the world’s great growth markets and is likely to be for many years to come. Foreign companies often face difficulties in assessing Chinese market demand and enacting effective strategies because of the language barriers, culture differences, and high expense.
BPOVIA is the leading virtual assistant and Knowledge process outsourcing (KPO) service provider in China. BPOVIA is the only virtual assistant company ever been nominated for the prestigious “Red Herring 100 Asia” Awards 2008. Combines international perspective with local know-how, BPOVIA can provide our clients China business development service and help our clients doing successful business in China.
Please visit http://www.BPOVIA.com/ for details about our service.
Popularity: 7% [?]