Commerce minister, Finland envoy discuss trade ties

13 November 2024

Published in: Business Recorder

Minister for Commerce Jam Kamal Khan and Finland’s Ambassador to Pakistan, Hannu Ripatti on Tuesday discussed new avenues of cooperation in different sectors including strategies for expanding trade ties and exploring untapped areas for collaboration.

Jam Kamal reaffirmed the Pakistani government’s commitment to strengthening economic ties with Finland. “I believe in deep coordination with our counterparts to enhance trade relations,” Jam stated, emphasizing the importance of identifying dormant sectors and activating them for economic benefit.

The Minister highlighted his ideas of tapping into unutilized resources and expanding into areas such as education, information technology, textile, health, construction, and social development. There is a possibility of a government-level delegation from Finland visiting Pakistan, which could mark a milestone for both countries, with expectations to solidify agreements and increase investment opportunities. One of the key initiatives discussed during the meeting was Pakistan’s establishment of the National Compliance Council (NCC), which seeks to ensure that local products meet international standards.

Minister Jam Kamal explained that the NCC will work with provincial and federal bodies to “sensitize” them on the importance of compliance, positioning Pakistani exports to be competitive in international markets. “The NCC will play a crucial role in aligning our products with global quality standards,” Jam added.

Finland’s presence in Pakistan’s business landscape has already proven fruitful, with companies such as Nokia, Kone, and Qvantel Telecom operating in collaboration with local firms.

Ambassador Ripatti praised the success of these businesses and highlighted the contributions they make to Pakistan’s educational landscape by providing technical training to university students.

This collaboration, he said, not only supports Finland’s business interests but also strengthens Pakistan’s workforce by equipping students with globally relevant skills.

The Ambassador also praised the talent of Pakistani engineers, describing them as “assets of your country,” capable of working under diverse conditions, and emphasized that Pakistan should focus more on the global demand for skilled technicians.

Jam Kamal responded by highlighting Pakistan’s skilled yet affordable labour force, suggesting that this human capital could be further leveraged by Finnish industries.

He invited Finnish companies to consider Pakistan’s “cost-effective, skilled professionals” as valuable contributors to Finland’s economy.

In addition, Ambassador Ripatti extended a formal invitation to Minister Khan to attend the upcoming Finland-Pakistan Business Forum on February 12, 2025, in Karachi. This forum is expected to bring together representatives from both countries to explore and promote joint business ventures and investment prospects.

The discussions also identified specific areas of shared interest, including education, information technology, textile, healthcare, and construction, as potential avenues for deeper cooperation. Both parties expressed optimism about the future, with a shared vision of fostering robust economic ties through these and other emerging sectors.

The meeting concluded with a mutual commitment to expanding economic engagement, with Pakistan and Finland poised to build on their strong foundation for a more diversified, resilient partnership.