Bilateral trade between India and Finland may touch one billion euros in a couple of years, a Finnish Minister said today.
"We see a strong growth in the coming years. I am optimistic it may be possible to achieve one billion euros in a couple of years," Finland Minister for foreign trade and development Paavo Vayrynen said at a press conference here.
Bilateral trade between the two countries had withered in the past two years due to the recession prevailing in the world, he said.
Vayrynen said India and European Union (EU) may sign a Free Trade Agreement in December this year.
However, there are many issues to be sorted out before the EU and India go for the agreement, he said.
"There will be an inter-ministerial meeting in November to sort out some issues," he added.
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Vayrynen is in India leading a team of officials from Finnish clean technology companies like ABB, Elematic, Ensto, Kemira, Outotec and The Switch.
He said due to recession, the Finnish economy had witnessed a negative growth last year.
"We saw a negative growth in the GDP last year. However we expect to recover this year and see a growth of 3 per cent," Vayrynen said.
Meanwhile, Janapriya Projects, a joint venture between city-based Janapriya Engineers Syndicate and Kotak Realty, today signed a technology deal with Finland-based Elematic for setting up precast concrete unit in the city.
The precast products from the unit will be used for construction of Rs 700-crore Janapriya Lake Front township.
Petteri Laitinen, Sales Director, Customer Services, Elematic, who signed the MoU on behalf of Elematic, said his company which has presence in over 90 countries entered Indian market two years ago.
"With the Janapriya Projects unit, we provided technology to three units in the country and recently signed for the fourth unit which will come up in New Delhi," Laitinen said.