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Russia and Finland to boost trade turnover — Putin

July 27, 18:58 UTC+3 SAVONLINNA

Russia and Finland will support emerging growth in the bilateral trade, Vladimir Putin says

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SAVONLINNA, July 27. /TASS/. Russia and Finland will support emerging growth in the bilateral trade, President Vladimir Putin said on Thursday after talks with his Finland’s counterpart Sauli Niinist·.

"We noted growth in the bilateral trade. The trade turnover surged by almost 51% in January - May. Our common task is to support and endeavor to do everything in an attempt to keep these rates. The intergovernmental commission and the business council are working on that. Mutual interest of business circles of our countries in cooperation is steadily high," Putin said.

Mutual investments of both countries continue growing, the Russian president said. Direct Russian investments into the economy of Finland is about $3 bln and Finnish investments into Russia amount to approximately $4 bln.

The countries enjoy large-scale cooperation in the energy sphere, particularly in construction of the Hanhikivi-1 Nuclear Power Plant, Putin said. "Preparatory work is in full swing on the site, equipment is imported and the first tranche of our credit resources amounting to about 1 bln euro was remitted. Total investments into the project are 5 bln euro, including a half to be financed from reserves of the Russian government," the Russian leader said.

Putin also highlighted other projects of Russian companies, such as Biocad planning to start producing its pharmaceuticals in Finland, Yandex with a datacenter to be launched there, and others.

The parties noted efficient interaction between environmental protection agencies of two countries in the course of talks, Putin said. "We are set to continue expanding bilateral cooperation in the environment protection sphere," he added.

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