LAHORE – Finland and Pakistan have a huge scope to expand relations in various sectors of the economy therefore the private sector in Pakistan should enhance its interaction with Finnish counterparts.

This was stated by Finland Ambassador to Pakistan Rauli Suikkanen while talking to LCCI President Farooq Iftikhar here on Monday. LCCI Vice President Mian Abuzar Shad, Executive Committee Members Mian Zahid Javaid Ahmad, Malik Muhammad Akram and former Executive Committee Members Sheikh Muhammad Irfan, Dr Shahid Raza and Khawaja Khawar Rashid also spoke on the occasion.

The Ambassador said that the existing trade volume between Pakistan and Finland is enough to make the point that both sides have multifaceted and strong trade ties. He said a number of Finnish companies had already recognised Pakistan’s potential and are working here.

Speaking on the occasion, LCCI President Farooq Iftikhar said that Joint venture opportunities exist in the field of power generation and for development of biomass technology.

He said Finnish equipment and technologies can help exploit Pakistan’s full potential in agriculture, horticulture, dairy and livestock sectors. The LCCI President suggested that it is necessary that both countries have access to each other’s markets to further expand commercial and economic ties. This will definitely lead both sides to a more strengthened and stable economic partnership.

He said that LCCI values to have greater interaction with Finnish counterparts in order to develop close linkages.

The LCCI President said that Pakistan can partner with Finnish technological think tank for development of technological industry in Pakistan. The LCCI President said that over 400 Finnish companies are currently operating in South Asian Region and had made substantial investment in the last ten years in this part of the world and business community here is of strong hope that more Finnish investors would divert their attention towards Pakistan in coming days. 

Major items of imports from Finland are electric appliances, tapes for sound records, parts for motor engines, enzymes, chemical wood pulp, newsprint, pressure reducing valves, electric transformers, paper & paperboard, polymers of ethylene, electric motors & generators etc.

Pakistan’s top exports to Finland are articles of apparel & clothing, woven fabric (synthetic staple fiber), woven cotton fabric, bed, table, kitchen linens, articles & equipment of gymnastics, men’s suits & jackets, articles of cutlery, women suits & dresses, gloves, mittens, electro medical apparatus, track suits & T-shirts etc.