Directions for development and diversification of the Russian-Finnish economic relations

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Trade Representative of the Russian Federation in Finland

Dr. Valery A. Shlyamin

Perspectives of Russian-Finnish

economic cooperationin field of transport and logistics

Helsinki,21.9.2012

2

Directions for development and diversification

of the Russian-Finnish economic relations

• deepening of investment cooperation• enlargement of innovation interaction of business

communities• increase of trade in services• industrial and scientific-industrial cooperation of

enterprises• development of regional and cross-border cooperation • participation of Finnish companies in modernization of

the Russian economy

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December 16th, 2011 Geneva Ministerial Conference has approved the Working

Group report concerning Russia's membership in WTO

July 21st, 2012 MoscowRussian Federation has ratified Russian WTO

accession protocol

August 22nd, 2012Russia finally entered the WTO

End of the longest ever negotiation period (18 years)

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Possible benefits of Russia’s WTO membership

Finnish partners have good opportunites for participation

WTO membership

Possibilities for development of technologies exchange

One of the ways for Russian economy diversification and modernization (www.formodernisation.com)

We open our markets to create modern and competitive economy

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Estimates of Russia’s WTO membership impact on the Finnish economy

Conservative estimate Optimistic estimate

Market capacity for Finnish goods and services

+0,7% +1,1%

Finnish GDP +0,1% +0,2%

Finnish exports +0,5% +0,7%

Employment in Finland +0,2% +0,3%

Source: Bank of Finland, World Bank

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Russia

1st place in the Finnish foreign trade

13.2 % share

Finland

15th place in the Russian foreign trade

2.1% share

Source: Federal customs service of the Russian Federation, National Board of customs of Finland, 2012

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Share of Finland in the Russian foreign trade, %

2,7

2,2

3,1

2,4

1,8

2,1

3,0

2,4

2,9

3,2

3,02,8

2,3

2,7

2,5

3,0

3,4

3,13,13,2

1,5

2,02,0

2,52,5

3,12,9

1

1,5

2

2,5

3

3,5

2005 2006 2007 2008 2009 2010 2011 1st half2011

1st half2012

Turnover Export Import

Source: Federal customs service of the Russian Federation

8

Eurasian Regional Integration

2012

Eurasian Economic Commission

9

Common economic space of Russia, Belarus and Kazakhstan

10

| 10The Customs Union and the Single Economic Space Share in the Global Export of Goods in 2010

Source: Eurasian Economic Commission

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Thank you for attention!

Trade Representation of the Russian Federation in Finland

www.rusfintrade.ruE-mail: vneshtorg.vesfin@rustrade.inet.fi