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The influence of political factors on Russian-Finnish economic relations

Dr. Valery A. ShlyaminDr. Valery A. Shlyamin, ,

Trade representative of Russia in FinlandTrade representative of Russia in Finland

Savonlinna,30.07.2015

SUCCESSFUL BILATERAL PROJECTS

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Ore-dressing complex in Kostomuksha

(1977-1985)

Nuclear power plant in Loviisa

(1971-1980)

SUCCESSFUL BILATERAL PROJECTS

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Svetogorsk pulp and paper mill

(1972-1990)

Deep-diving submersible «Mir»

(1985-1987)

-10%

-5%

0%

5%

10%

2005 2007 2009 2011 2013 2015*

Russia Finland EU

10

15

20

25

30

2005 2007 2009 2011 2013 2015*

Finland Russia EU

Real GDP growth rate in 2005-2015 (%)

Total investments, % to GDP

* - forecast

Source: IMF, Ministry of Finance of Finland, Ministry of Economic Development of Russia

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Russian-Finnish trade in goods

9,212,2 13,2 12,0

13,311,4

8,4

5,33,3

4,0

4,6

5,7

5,0

5,4

4,6

2,9

1,9

0,9

4,2

13,1

16,818,9

17,018,7

16,0

11,3

7,2

0

5

10

15

20

2009 2010 2011 2012 2013 2014 2015* Jan-May2014

Jan-May2015

Exports of goods from Russia to Finland Imports of goods from Finland to Russia

* - estimate by the Trade representation of Russia in Finland

Source: Federal Customs Service, 2015

Bln. USD

Russian foreign trade growth rate (2005=100%)

6

USA

EU

Finland

Source: Federal Customs Service, 2015

Russian foreign trade in August 2014 – May 2015

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with FinlandExports to Russia – down by 36.7%

Share in the Russian imports – down by 0.2 p.p. (from 2.1% to 1.9%)

with EU Exports to Russia – down by 31.1%

Share in the Russian imports – down by 2.9 p.p. (from 42.5% to 39.6%)

with USA

Exports to Russia – down by 20.7%

Share in the Russian imports – up by 0.5 p.p. (from 5.9% to 6.4%)

Source: Federal Customs Service, 2015

Perspective directions and projects of the Russian-Finnish economic cooperation

Arctic technologies including special shipbuilding

e.g. Construction of ice-class vessels at the Helsinki Ship Yard under Russian and Finnish orders

Energy, energy efficiency and cleantech

e.g. Nuclear power station project Hanhikivi-1 by Rosatom

Bio-Medical sphere, ICT, Photonics, BiotechnologiesThere are a number of joint initiativese.g. Joint development and construction of robots and there components, including surgery robot complex

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EuroRussia Forum Secretariat

BanksInsurance companies

Funds

Banks Insurance companies

Funds

Office of the Representative of the President in the

North-West Federal District ;

Russian Officials

Finnish Ministry for Foreign Affairs;Finnish Officials

ALAKURTTI Technological park

Yaninologistics center

Vyborgenterprise network

Ladoga region technological park

”Nature” enterprise network

Svetogorsk-ImatraTechnological park

«EuroRussia» Forum – perspective project of the Russian-Finnish state-private partnership

101010

www.rusfintrade.ru

Thank you for attention!

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