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Mr Leif Fagernäs Director General, Confederation of Finnish Industries EK

Mr Leif Fagernäs Director General, Confederation of Finnish Industries EK. Russian Economic and Financial Forum in Finland Hotel Crowne Plaza, Helsinki 13-14 November 2006. EK represents. The entire private sector and companies of all sizes 43 branch associations

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Mr Leif Fagernäs Director General, Confederation of Finnish Industries EK

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  1. Mr Leif FagernäsDirector General, Confederation of Finnish Industries EK Russian Economic and Financial Forum in Finland Hotel Crowne Plaza, Helsinki 13-14 November 2006

  2. EK represents • The entire private sector and companies of all sizes • 43 branch associations • About 16,000 member companies, of which 96 % are SMEs • Over 70 % of Finland’s GDP • Over 95 % of Finland’s exports • About 950,000 employees Unparalleled knowledge and information on Finnish business Natural partner for the government

  3. EK in issues related to business with Russia FI-RU Economic Commission, RU ministries Commission RSPP Ministries and other Finnish authorities Unice EK Departments Member federations • Direct and indirect contacts with Finnish, EU and Russian authorities and business organisations • Bilateral economic Commission,UNICE Russia Network, cooperation with RSPP, IRT • Memos on issues to be tackled • Participation in committees and Working groups

  4. Finland’s Competitiveness • 2nd according to the World Economic Forum 2006-2007 Global Competitiveness Report • 10th on the IMD 2006 World Competitiveness Scoreboard • 14th in the World Bank Doing Business in 2006

  5. Economic policy promoting competitiveness • Political stability and good economic performance • Least corrupted together with Iceland and New Zealand • High level of education • 3.5 percent of the GDP to R&D • Venture capital funding made available • Functioning labour market • Preparedness for reforms

  6. Tasks to be tackled • Early preparation for the consequences of ageing population • More investment in higher productivity and infrastructure • Securing well-functioning competition policy • Better regulation • Sufficient investment in infrastructure • More working years

  7. Examples of Measures to be taken • Earlier graduation and smaller drop out percentage • More support for speedy start up of production and marketing of products based on new innovations • More flexible transfer of family company ownership

  8. Stock of Direct Investments, EUR billion

  9. Тrade between Finland and Russia in 1992-June 2006 in mln. euro +23% +32% +22% +25% +23% +13% Source: Board of Customs

  10. СПАСИБО ЗА ВНИМАНИЕ!

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