India-Finland Virtual Summit | Daily Current Affairs 2021
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India-Finland Virtual Summit

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Prime Minister Shri Narendra Modi and Prime Minister of the Republic of Finland H.E. Ms. Sanna Marin held a Virtual Summit on 16th March 2021.

Highlights of the bilateral virtual summit:

  • The two leaders reviewed the ongoing bilateral engagements and expressed their desire to further expand and diversify the relationship across sectors such as:
  1. Trade and investment
  2. Innovation, education
  3. Emerging technologies including Artificial Intelligence
  4. 5G/6G, and quantum computing
  • Both leaders noted that the close relations between India and Finland were based on shared values of democracy, rule of law, equality, freedom of speech, and respect for human rights.
  • The leaders exchanged views on regional and global issues, including the India-EU partnership, cooperation in the Arctic region, WTO and UN reforms
  • The two leaders also discussed the Covid-19 situation including their respective vaccination drives, and emphasized the importance of global efforts for urgent and affordable access to vaccines across all nations.
  • Prime Minister Modi invited Finland to join the International Solar Alliance (ISA) and the Coalition for Disaster Resilient Infrastructure (CDRI).

India-Finland Relation:

  • The diplomatic relations between both the countries were established in the year 1949.
  • Finland has established its embassy in New Delhi and consulates in Chennai, Bangalore, Mumbai and Kolkata while India has an embassy in Helsinki which is jointly accredited to Estonia.
  • Both India and Finland share a warm and friendly relations which is based on the shared values of the freedom, democracy and rules-based international order.
  • Both the countries have collaborated for the joint development of a Quantum Computer using the Artificial Intelligence (AI) in order to address the societal challenges.
  • The countries share a close cooperation in the areas of education, trade & investment, science & technology, innovation and Research & Development.
  • In terms of economic relations, both the countries Bilateral trade was around $1.247 billion in 2014-15 and by 2016-17 it reached to $1.284 billion. In the year 2016, Finland was the 60th largest trade partner of India across world while it was 10th largest within the European Union (EU). Similarly, India was the 23rd largest trade partner of Finland and the 5th largest within Asia.

Source: Orissadiary

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