Finland

Overview

Severe climate often characterizes Finland, the world's most northern and geographically remote country.
Ranks among the wealthiest countries in Europe and richest in the world.
Practices a largely free-market economy with state ownership of a few key industries.
Favorable trading relationship with the U.S. despite the European Union (EU) restrictions.
Highly dependent on foreign goods.
Highest per capita Internet connected computers in the world.

Opportunities

Agricultural supplies and equipment
Aircraft
Chemicals
Computer hardware and software
Consumer goods
Electricity
Gas
Machinery
Mineral fuels
Oil
Raw materials for the industrial use
Semiconductors
Telecommunication
Vehicles

Marketing tips

Expect intense competition from domestic suppliers and also other European countries.
Highly developed technology creates a wide opportunity for the exporters for computer related equipment.
Applies a value-added-tax of 22 percent to all imported goods except computer hardware (no tax on computers).
Promising investment opportunities in electronics, software industries, biotechnology, medical equipment, and healthcare services.

Business Culture

Finnish and Swedish are the official languages of Finland.
Finns are low-key, punctual and known throughout the world for honoring their agreements
Keeping promises is important.
Information technology permeates production, work and home life so much that high tech awareness is a must for doing business.
Finns favour foreign investors and business people.
Finns expect managers to be more consultative and less distant from subordinates.

Do’s

Schedule appointments in advance and always be prompt.
Study their high tech environment.
Maintain formal and polite actions in business relationship.
Respect “Work hard, Play hard” philosophy.
Develop trusting relationships with business partners.

Don’ts

Don’t make promises if uncertain about keeping them.
Avoid personal questions.
Avoid interrupting a Finn’s private life with business matter.

Legal Environment

Finland's import climate is very open and receptive to U.S. products. There are no trade barriers or major regulations to overcome for most products.
Finland is a civil code country, with laws substantially influenced by the EU.
Finland's 1995 entrance into the European Union has blurred the line between foreign and domestic policy.