Year 2023 in a nutshell

The year 2023 will go down in the history of the Chamber of Commerce as the opening of the new and the closing of the old. We have explored new markets, built networks, and found opportunities. We opened an office in Almaty, Kazakhstan in August, and our Member Meeting decided to establish a presence in Ukraine. Our task as an exit support for Finnish companies has been completed, and the door to Russia has been closed permanently.

We are in constant dialogue with our member companies and stakeholders. Our services, events, content production, and advice support Finnish companies’ business operations in the Ukrainian, Central Asian, and South Caucasus markets. Getting to know the business environment and exchanging experiences is easier when there is a competent international network around. We have also emphasized that sanctions must be followed in all circumstances, which responsible Finnish companies understand. This is also evidenced by the fact that our sanctions advice receives constant questions and sanctions-related events are full.

In 2023, we organized a total of 36 different events: member clubs, online training, and open webinars. Our news service has produced over 300 news items. We have published market information and reviews as well as business opportunities and articles on target markets. In addition, we have conducted fact-finding trips and organized Team Finland visits for companies in cooperation with the Ministry for Foreign Affairs of Finland.

Central Asian markets

At the end of February, we visited Uzbekistan and Kazakhstan with Minister for Development Cooperation and Foreign Trade Ville Skinnari. The countries are actively seeking clean technologies for industry, solutions for sustainable mining, and the development of education. The demand in these markets thus corresponds well to the offerings of Finnish companies.

In September, we organized a Team Finland visit to Almaty in cooperation with the Finnish Embassy in Astana and the Ministry for Foreign Affairs of Finland. Over 100 Finnish and Kazakh companies networked and sought cooperation opportunities at the business forum and B2B meetings tailored to the wishes of Finnish companies.

At the beginning of August, we opened an office in Almaty, Kazakhstan. Altyn Shakirkhanova started as the Head of the office, coordinating the local work of the Chamber of Commerce, conducting market surveys, providing business advice, and helping Finnish companies enter the markets of Central Asia, especially Kazakhstan.

At the beginning of August, we opened an office in Almaty, Kazakhstan.

The significance of Central Asia has also been raised in the Finnish Government Program with the following statement: ”Finland will strengthen its economic relations with Central Asian countries, as they are potential trading partners in a region of security policy importance.”

In addition, the European Union’s Central Asia strategy aims to promote green transition, help fight climate change, and develop business environment, investment climate, sustainable connectivity policy of the countries. In this context, it is good for EastCham and its member companies to engage in international cooperation.

While strengthening trade relations with the Central Asian and South Caucasus markets, we remind companies to be careful in knowing about sanctions, customers, and the entire supply chain so that there is no room for circumventing sanctions.

Rebuilding Ukraine

During 2023, we have mapped the interest of companies in the Ukrainian market and the support they need. According to our survey in May, Finnish companies are interested in the energy sector, construction, waste and water management, agriculture, and planning and consulting in rebuilding Ukraine. Companies want to rebuild together with Ukrainians, taking into account the country’s wishes and needs.

Ukraine is a new market for many companies, and therefore the need for information and support is emphasized. Finnish companies also recognize the challenges of the operating environment. According to the survey, companies need the most information on Ukraine’s needs, financing, and business environment.

Our extraordinary Member Meeting decided at the beginning of November that the Chamber of Commerce will establish a presence in Ukraine and open an office in Kiev. We hope that Ukraine will become an important market for Finnish companies in the long run. We want to support Finnish companies as they enter the market. We create a support network and share information about the business environment. We offer practical assistance in Ukraine and act as a networking platform for Finnish and Ukrainian companies. EastCham provides consulting services to companies as part of the Team Finland network and is involved in implementing the Ukrainian reconstruction plan coordinated by the Ministry for Foreign Affairs of Finland.

A colorful year

A lot has happened this year. As a team, we have worked hard and served Finnish companies to the best of our ability. We helped Finnish companies close the door to Russia and at the same time closed our own door there permanently.

Our international network has expanded into new target markets. We have made quick decisions and chosen our path strictly following our strategy, and I believe we are on the right track. Finnish companies have rated our services with excellent grades. That is, of course, the best measure of success.

I want to thank all the representatives of our member companies, the wide stakeholder and Team Finland network, ministries, and ambassadors for their excellent cooperation. Thanks also to the staff.

A big thank you to Ilkka Salonen, the long-time chairman of our Chamber of Commerce. Mikael Pentikäinen, CEO of Suomen Yrittäjät, who previously served as vice-chairman, started as our new chairman. It is good to continue the work under his leadership.

I wish everyone a cozy Christmas time and peace for the new year.

Jaana Rekolainen 

CEO