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India-Finland conclude Science & Technology Agreement
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TechTeam on 27 March, 2008 01:45:00
 
Helsinki: A significant agreement on Cooperation in Science & Technology between
India and Finland was signed by Kapil Sibal, Minister of Science & Technology
and Earth Sciences, and Mauri Pekkarinen, Finnish Minister of Economic Affairs,
in the city on Tuesday. The Agreement provides for a broad based framework of
cooperation in the areas of research, development and innovation policies
between the two countries with renowned cutting-edge technologies. Addressing on
the occasion Sibal said, “The way forward for our bilateral relations is
to set up an innovation industrial R&D fund enabling technology access to market
for mutual benefit of the people of India and Finland.” The Minster will
also call on Finnish Prime Minister Matti Vanhanen and Sari Sarkomaa, Minister
of Education. He will also be visiting a number of leading research
institutions. Bilateral relations with Finland, an important member of the
European Union with proven technological capabilities in ICT, Biotechnology,
industrial machinery and paper industry, have assumed a dynamic edge following
the exchange of Prime Ministerial visits in 2006. The India-EU Summit meeting
took place in Helsinki in October 2006 during Finland?s EU Presidency. Bilateral
trade which in 2007 was valued at Euro 645.08 million has grown by over 20 per
cent. Two-way investments are growing with Finnish majors like Nokia, Elcoteq,
Kone and Wartsila now well-established in India. Indian investments in Finland
are also making an impact in areas such as ICT and renewable energy. It is to be
noted that Finland has one of the highest investments in R&D as a percentage of
its GDP among the OECD countries and is continually increasing. It is now
renowned for its environment-friendly, innovative technological capabilities
which would be beneficial for India?s booming economic development