Press release 28.5.2012

Finpro opens trade centers in Peru and Colombia

Finpro is opening trade centers in Peru and Colombia to support the growing interest that Finnish companies have in this region. Economic growth, a stable business environment, and a new free trade agreement with the EU are accelerating investment in Andean region countries in sectors such as infrastructure construction, telecommunications, the oil industry, and the mining industry.

"The growing prosperity of the Andean region and the fact that foreign companies are more welcome is increasing demand for Finnish expertise and professional skill in many sectors. The economies of Peru and Colombia have been growing at an annual rate of more than 5% and the growth is expected to continue," says Vice President Matti Landin, who is in charge of Finpro's operations in Latin America.

The Finpro trade centers scheduled to open this year in Lima and Bogota will provide service in Andean region markets: Peru, Colombia, Ecuador and Bolivia. Peru and Colombia are characterized by a relatively easy business environment, growing foreign investments, and economies that continued to grow during the recent economic crisis. Peru and Colombia have signed a free trade agreement with the European Union that will take effect this year. Last year the countries attracted a total of more than USD 15 billion in foreign investment.

Fixed-term financial support from the Ministry of Employment and the Economy is helping to finance the opening of the Andean trade centers.

Free trade agreement opens up opportunities

"The moment the free trade agreement enters into force is the right time for Finnish companies to enter the regional market. Overall prosperity is creating demand while competition is still not too tough in strong Finnish sectors," continues Landin.

According to a Finpro report, countries in the Andean region have significant opportunities in several different industries, such as mining, cleantech, infrastructure construction projects, health care, telecommunications, oil, and the education and security sectors.

"The support offered by the new trade centers will provide Finnish companies with much better chances to seize the opportunities in the region. We have seen our assignments in the countries of this region multiply in recent years," says Landin.

Finpro serves its clients in the Andean Region in cooperation with the Ministry for Foreign Affairs in the spirit of the Team Finland. The joint target is to promote international success of Finnish companies, boost exports and increase sales in the region.

For further information

• Matti Landin, Vice President, Latin America, Finpro, +55 12 9744 4762, matti.landin(a)finpro.fi
• Outi Torniainen, Senior Vice President, Communications and Marketing, Finpro, +358 40 512 1375, outi.torniainen(a)finpro.fi

Finpro is a globally operating organization which promotes the growth and success of Finnish companies on the international market. Finpro networks locally and internationally in order to benefit its customers and partners. Finpro has more than 370 experts working at 68 locations in nearly 50 different countries.

Finpro opens up future opportunities in international markets. Our competence and services accelerate our customers' success during the different phases of internationalization; we enable them to be in the right place at the right time with competitive concept, products, and services. Along with assignments for companies, Finpro runs several major international projects, such as clean technology Cleantech Finland, Future Learning Finland for education export, and the FinNode network of innovation organizations.

Further information about Finpro is available on our website at www.finpro.fi.