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Finland, Iran Discuss Energy Tech Trade

Finland, Iran Discuss Energy Tech Trade Finland, Iran Discuss Energy Tech Trade

Transfer of environmental protection technologies in oil, gas and petrochemical sectors was discussed in a meeting between Deputy Oil Minister Amirhossein Zamaninia and Finland's Minister for European Affairs and Foreign Trade Lenita Toivakka in Tehran.

Referring to "unprecedented investment opportunities" in the country's petrochemical sector after the lifting of sanctions, Zamaninia said, "Finland is not a global energy powerhouse, but the country has developed some of the most advanced oil and gas related technologies," IRNA reported.

Toivakka stressed that Helsinki looks to establish a long-term relationship with Tehran through the transfer of knowhow and does not see the Persian Gulf country as merely a market for Finnish equipment and machinery.

Ahead of Wednesday's meeting, Toivakka said in a statement that Finland wants a more active economic role in the strategic Middle East and considered Iran as a "major commercial and political partner" who plays a key role in the region.

The Finnish minister traveled to Tehran earlier this week at the head of a 100-member trade delegation to explore grounds for cooperation with Tehran in banking, telecommunications, energy, construction and infrastructure sectors.

Finland is deprived of fossil fuel resources and crude oil accounts for some 25% of the country’s total primary energy supply, according to the International Energy Association.

In 2012, the country's oil imports stood at 328,000 barrels per day, with Russia supplying around 90% of its total crude demand. Finnish gas demand is also entirely met by imports from Russia via a twin pipeline connection. It comes as renewables provide more than a quarter of Finland's energy demand.

Tehran and Helsinki have developed limited economic ties over the years. According to reports, Iran's import of Finnish goods reached $44 million last year compared to a meager $311,000 worth of exports to the tiny European nation.

The Islamic Republic also has imported $76 million worth of products from Finland so far this year, with outbound shipments standing at $449,000.

The Finnish mission is one of the last among European states to send a trade delegation to the Iranian capital after Tehran reached a landmark agreement with six world powers in July, following in the footsteps of Italy, Germany, France and Belgium, among other EU member states.

 

Financialtribune.com