Finnish Ambassador Confident India and EU Will Finalise Trade Deal by Year-End

Finland's Ambassador to India, Kimmo Lähdevirta, expressed optimism about finalising a trade agreement between India and the European Union by the end of the year. This announcement came during the inauguration of Finland's honorary consulate in Ahmedabad. Kulin Lalbhai, Vice Chairman of Arvind Ltd, has been appointed as the Honorary Consul of Finland.

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Lähdevirta highlighted the significance of the European Union College of Commissioners' visit to India in February. He described it as historic and crucial for advancing negotiations. "It was a really historic visit, and I think it also created very good momentum for the negotiations to go ahead. I think both leaders on the European side and India are now committed to the goal of having an agreement by the end of this year," he stated.

Trade Deal Prospects and Economic Cooperation

The ambassador acknowledged that significant work remains but remained hopeful about achieving the trade deal. "At the moment, I would say that the momentum and the prospects are very good," he added. The annual trade volume between India and Finland stands at approximately 3 billion Euros.

When questioned about Finland's expectations from the trade deal, Lähdevirta emphasised the importance of fair tariffs on industrial goods. "Well, from our side, of course, a meaningful tariff level for industrial goods is very important. But it is of course important to reach a solution which both sides feel is just and beneficial," he explained.

Finnish Business Interests in Gujarat

A Finnish business delegation led by Lähdevirta plans to meet Gujarat government representatives soon. Several Finnish companies have shown interest in investing in Gujarat. Nearly 10 Finnish firms are already operating in the state, focusing on sectors like clean energy, circular economy, skilling, smart infrastructure, and sustainable design.

The honorary consulate's establishment signifies strengthening ties between India and Finland and increasing business interests. According to Lähdevirta, Finnish companies contribute to Gujarat's growth through advanced technologies and sustainable solutions. "Our cooperation has focused on energy, but today, Finnish companies are engaged across multiple sectors," he noted.

These collaborations align with Gujarat's development goals, offering an ideal environment for such partnerships to thrive. Finnish investments aim to support Gujarat's progress with world-class technologies and sustainable practices.

With inputs from PTI