Opening speech by President of the Republic of Finland Tarja Halonen at a Business Seminar in Baku on 30 September 2005

It is a great pleasure for me to open this Finnish business seminar in Baku together with President Aliyev of Azerbaijan. When I arrived in Baku yesterday, I was astonished by the development that has taken place here. Since the last time I visited Azerbaijan, nearly ten years ago, Baku has changed dramatically. I can think of no other city where development has been so fast.

This seminar is a good indication of the new cooperation that is developing between our countries. This does not meant that we have not had links in the past, on the contrary. I have noted with satisfaction that Finnish quality has a lengthy reputation here. Companies are naturally responsible for their own success, but as President I can tell you more about Finland. I am convinced that your partners come from a "good family". I am also convinced that relations between our nations will promote companies' activities.

Finland has been a member of the European Union for ten years. The enlargement of the EU has brought Azerbaijan closer to us. In the second half of next year Finland will hold the presidency of the EU, and the significance of Azerbaijan and the entire region will be remembered at that time.

In our bilateral trade there is much work to do. A favourable business environment is essential for economic cooperation, and this is promoted by our treaty on the protection of investments and the tax treaty that was signed yesterday. We also expect that treaties on air and land traffic will be ready soon.

In a global world everyone needs partners. Rapidly developing Azerbaijan holds growing interest for Finland, as this seminar attests. Here representatives of our countries' industry can meet one another. And believe, that this is just a selection of Finnish companies – of course an excellent one – who are interested in doing business here in Azerbaijan.

Foreign trade is important for Finland. Fortunately we have done well in international competition: Finland has been among the top EU countries in terms of economic development and has long been ranked among the top countries in the world in international surveys of competitiveness.

I have often been asked the reasons for Finland's success. The World Economic Forum has listed Finland number one in its global competitiveness report three times in the past four years. The WEF has cited Finland's education system, ability and investments in technology, efficient public administration and legal environment, and low levels of crime and corruption. There is all the need to take democracy, human rights, the rule of law and fight against corruption seriously.

On the basis of the experience of Finland and the other Nordic countries I can say that countries with comprehensive public education services and social security have been at the top in surveys of competitiveness. Society's support for citizens has been worthwhile economically, and I believe this is also true for Azerbaijan. I am sure that the success of Finland and Finnish companies up to now is based on the effective use of national resources in education. Universities' and research institutions' cooperation with the private sector is essential. The most important thing, however, is educating children and young people. I am proud to say that Finland has taken the top spot in the OECD's latest survey of general education.

Minister Pekkarinen will talk about the Finnish economy and industry at greater length, but I would like to say myself that on the basis of meetings and the discussions I have had, the possibilities for growing cooperation between Finland and Azerbaijan are excellent. I hope that this seminar will help give these concrete form.