Finland, China in $3b high-tech deals

(Agencies/Xinhua)
Updated: 2009-06-26 08:49

HELSINKI: Finland and China on Thursday signed high-tech contracts worth $1 billion (720,000 euros) and planned new top-level trade talks aimed at further deals worth more than $2 billion, Chinese Vice Premier Li Keqiang said.

"We will be sending a large economic and trade delegation numbering several hundred to Finland in a few weeks. As it stands now we are looking at new contracts worth more than $2 billion of Chinese purchases from Finland," Li said.

Li spoke at a joint news conference after the signing ceremony and talks with Finnish Prime Minister Matti Vanhanen, at the start of a two-day official visit.

"We also hope that this kind of cooperation will help EU and Chinese relations, and play its part in helping to stabilize the global economy," Li said.

Li and Vanhanen joined a signing ceremony of several government and business agreements between the two sides, under which Li said China would purchase Finland's advanced environment-friendly technologies.

Finnish and Chinese delegates also signed wireless technology contracts, including between the world's largest mobile phone maker Nokia Corp. and Chinese telecommunications companies. Details were not immediately available.

Finland, which is highly dependent on exports, welcomed China's input, Vanhanen said.

"At a time of financial difficulty, with production cuts and factory shutdowns, we greatly appreciate China's cooperation and the fact that they are looking to make purchases here," Vanhanen said.

Last year, Finnish-Chinese trade amounted to some $10 billion, officials said.

On Friday, Li was to visit the headquarters of Nokia and Kone, a Finnish elevator and escalator maker with operations in 50 countries. He was also to meet President Tarja Halonen.

Cooperation on financial crisis

The two sides also agreed to push for closer economic cooperation to tackle the ongoing global financial crisis.

Li unveiled broad measures to work together with Finland to fight the global financial crisis after meeting with Vanhanen.

The two governments also planned to hold talks in August on reducing double-taxing to facilitate bilateral trade and investment activities.

Li said these measures were major fruits of his visit to Finland, adding that the measures reflected the shared political will between China and Finland to push for closer cooperation in tackling the financial crisis and opposing protectionism.

Vanhanen said that the Finnish government and the Finnish people, battered by the ongoing financial crisis, were looking forward to seeing the large group of Chinese entrepreneurs in Finland.