Minister of Economy Discusses Economic and Investment Cooperation between the UAE and Finland

• Al Mansoori Meets Finnish Delegation Headed by Finland’s Ambassador
• Delegates Commend UAE’s Investor-friendly Environment, Infrastructure and Legislations

Dubai-UAE: 16 March, 2014 – His Excellency Sultan Al Mansoori, the UAE Minister of Economy, met a visiting Finnish business delegation headed by Finland’s Ambassador, His Excellency Ilkka-Pekka Simila.

The meeting held at the Ministry of Economy’s (MOE) offices in Dubai discussed the growing economic relations between the UAE and the Republic of Finland.

His Excellency Sultan Al Mansoori outlined the UAE’s convivial investor environment and answered the delegation’s queries on the nation’s strategic economic direction towards enabling potential Finnish investors to identify key business opportunities in the UAE.

Al Mansoori said: “The UAE is proud to remain Finland’s top economic partner in the region. Prevailing investment opportunities in the two countries open doors to developing greater synergies between the private sector, investors and businessmen.

“In line with the UAE’s strategy and efforts to develop a knowledge-based economy we are keen to benefit from the experience of our Finnish counterparts. Finland has an excellent record in state-of-the-art technologies, education, research and development and we will seek to leverage our economic partnership to advance the UAE’s knowledge competencies in these domains.”

The Minister outlined the advantages for foreign companies investing in the UAE with its transparent legislations that are set to see further improvements in the imminent future.

Al Mansoori added: “Our country is a leading business hub in the region and offers rich investment opportunities stemming from the vision of its wise leadership, as well as unbeatable incentives and development programmes. We encourage Finnish companies to explore the potential of the UAE and take advantage of its developed infrastructure, safe environment and strategic location to expand their presence in the region that is among the fastest growing in the world.”

The visiting delegation stressed the importance of relations between the two nations and thanked the minister for his continued efforts to step-up bilateral collaboration. The delegates concurred with His Excellency Al Mansoori on the need to enhance economic and trade ties and confirmed the interest of Finnish companies to invest and operate in the UAE, which is considered a major hub for Finnish exports to the region and the world.  

As part of its priority, the delegation identified potential investment opportunities for the UAE’s companies in Finland. More specifically, the meeting explored a possible visit by a UAE business delegation to Finland in May 2015.

Finland has extensive expertise in the fields of technology, clean energy, mining, energy efficiency. It also has a highly competent workforce due mainly to its quality education system that is considered among the best in the world and offers an exemplary model for many countries. The country’s economy is considered among the most competitive in the world and enjoys a reputation of being the least corrupt, according to reports by Transparency International.

The UAE’s imports from Finland include technology equipment and devices, communication systems, paper and steel, while the UAE’s exports to Finland include plastic products, aluminum products and fabrics. Bilateral trade between the two counties registered US$429 million in 2012.