Finland's Minister for Foreign Trade approves of Russian economic reforms

Finland's Minister for Foreign Trade Jari Vilen has approved of the economic and legislative renewal in Russia. On Wednesday, speaking at a press-conference on logistics held in the Finnish town of Kotka, Jari Vilen said that he supported the efforts of the Russian Government to implement economic and legislative reforms. According to Vilen, the increased volume of Russian-Finnish trade proves that Finland's businessmen strongly believe in the stability of the Russian economy and the development of the industrial infrastructure in the country.

According to this August figures, Finland's annual export to Russia was 2 billion USD, which is 14% higher than last year. Russia accounts for 6.4% of Finland's export, one third of it circulating in the service sector, first of all in construction and tourism.

According to the minister, the difficulties in the trade relations between Russia and Finland concern the frontier and customs legislation.

"Finland, as well as the rest of the European Union await Russia's incorporation into the World Trade Organization," Vilen said. According to him, it will contribute to the introduction of single trade regulations and economic integration. At the same time the Finnish Minister noted that the exact entry date for Russia remained uncertain.