The Finnish-Russian Chamber of Commerce now EastCham Finland
The Finnish-Russian Chamber of Commerce has expanded its market area, updated its name and made changes to its rules. The decisions were made at an extraordinary meeting of the Chamber of Commerce members on 28 September 2022 on the basis of a proposal from the Board of Directors.
The new name of the Finnish-Russian Chamber of Commerce is EastCham Finland. Its market area is Central Asia, South Caucasus and Eastern Europe including Russia.
The most important task of the Chamber of Commerce is to support Finnish companies in this market. As a result of the reforms, the name of the Chamber was updated to reflect its current activities.
“Member companies consider it crucial that the Chamber of Commerce continues to support companies. The management and the Board of Directors of the Chamber of Commerce have been working on future activities for several months. Today we decided on a new common direction with companies,” says Jaana Rekolainen, CEO of EastCham Finland.
Companies have already been exploring new markets and want the services of the Chamber to support their work.
“The Chamber of Commerce has resources and services, which can be easily adapted for new markets and Finnish companies. The markets of Central Asia, South Caucasus and Eastern Europe offer many opportunities, and dozens of Finnish companies already operate in them,” says Rekolainen.
The operating conditions of the Chamber of Commerce and Finnish companies changed significantly after Russia attacked Ukraine in February 2022. This year, the Chamber has focused on sharing information about changes in the operating environment and advising Finnish companies that have run into problems as a result of the war and sanctions. At the moment, it is estimated that 70 per cent of the Finnish companies operating in Russia have left or are leaving the country.
“By the end of 2022, Finland’s exports to Russia are expected to have decreased by 60–70 percent. We will continue to monitor the situation in Russia, provide sanctions advice and information about Russia’s business environment,” says Rekolainen.
The Chamber of Commerce monitors the development of new markets and informs Finnish companies of new business opportunities. In cooperation with Team Finland partners, it organizes open information events, club events for membership companies and opens up ways to get to know the market.
Further information and interview requests
Satu Niemelä, Communications and Marketing Director, email@example.com
EastCham Finland is an expert organisation that provides member services to nearly 600 member companies. As part of the Team Finland network, EastCham provides internationalization services for all Finnish companies. EastCham aims to identify economic signals and support business operations in relevant markets for Finnish companies in Central Asia, Southern Caucasus, Eastern Europe and Russia.