Abu Dhabi, December 7, 2016: The Finnish capital of Helsinki recently witnessed the launching of the UAE-Finland Business Forum which was attended by an official delegation from the UAE comprising several Emirati entrepreneurs and investors as well as representatives of local government agencies. The group was part of an extended visit organized by the Ministry of Economy in cooperation with the UAE's Council of Small and Medium-Sized Enterprises and Projects which included participation in SLUSH 2016, high-level official meetings with officials of the Finnish Government, and a tour of Finland in its agenda.

The Forum showcased prospects for economic cooperation and opportunities for building robust trade and investment partnerships between the public and private sectors of the UAE and the Republic of Finland. It focused on technology-related and innovative projects and ways to take advantage of innovation and advanced technologies in developing priority sectors such as industry, tourism, energy, education and other sustainable pillars for growth.

H.E. Abdullah Bin Ahmed Al Saleh, Undersecretary of the Ministry of Economy for Foreign Trade and Industry, led the UAE side, while the Finnish side was headed by Under-Secretary of State for External Economic Relations H.E. Matti Anttonen.

H.E. Anttonen emphasized Finland’s eagerness to further develop economic relations with the UAE and noted the great potential for cooperation between the two sides so as to advance development in areas of common interest, especially innovation, education and energy.

For his part, H.E. Al Saleh delivered an opening speech on the sustained growth of economic ties between the UAE and Finland. He revealed that their countries’ total bilateral foreign non-oil trade for 2015 reached USD 440 million and is expected to rise further through the end of the current year after standing at USD 322 million during the first half.

H.E. Al Saleh added that Finland is a prominent international destination in terms of technical expertise and sectors related to innovation and scientific research, which he said complements the UAE’s strategy of prioritizing innovation and considering it as a foundation for exceptional growth and competitiveness. H.E. explained that the UAE’s participation in the SLUSH exhibition provided a major opportunity for members of its delegation, especially entrepreneurs, to learn about the best practices of governments and companies worldwide in deepening the role of innovation in achieving success and accelerating growth.

The Undersecretary called on Finland’s businessmen and investors to benefit from the UAE’s leading economic environment which features excellent economic legislation, advanced infrastructure, a strategic location, and several ongoing development projects – all of which he said are important factors for attracting investments and supporting continuous business growth.

The UAE delegates to the Forum included H.E. Dr. Abdulrahman Al Shayeb Al-Naqbi, Director General of the Ras Al Khaimah Department of Economic Development; Dr. Ayman Ibrahim, Adviser to the UAE Minister of Economy for Policy and International Cooperation; Mohammed Nasser Hamdan Al Zaabi, Director of the Ministry of Economy’s Trade Promotion and Investment Department; Mohamed Al Yousfi, National Programme Director for Small and Medium-sized Enterprises (SMEs) at the Ministry; representatives from the Expo 2020 Dubai office, Dubai South, the Ajman Free Zone Authority, Mubadala Energy, Mubadala Development Company, Dubai Investment Development Agency, the Trade Business Organization of the American University of Sharjah, and Total Marine Services; and entrepreneurs from various sectors.

H.E. Al Saleh and other members of the delegation also met with H.E. Petri Peltonen, Undersecretary of the Finnish Ministry of Economic Affairs and Employment. The two sides discussed ways to boost economic cooperation for the benefit of the common interests of their countries.

In another meeting, H.E. Al Saleh met with H.E. Maria Ohala, Speaker of the Finnish Parliament, to discuss how cooperation can be further expanded to support their countries’ efforts towards sustainable development, particularly in education, scientific research, development and innovation, as well as promote the empowerment of women and maximize their contributions to the economy.

The UAE delegation also visited the Finland Technical Research Institute, a prestigious world-class institution specializing in innovation and advanced technology which employs more than 2,000 researchers involved in the fields of science, energy and environmental solutions. The group learned about the huge government investments poured into scientific research and the sophisticated mechanisms followed by the Institute to attract investments that pass-through business incubators and accelerators for different innovative sectors that contribute to the growth of emerging businesses, support small and medium-sized enterprises (SMEs), and encourage entrepreneurship.