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Economy and Trade

Czech-Finnish trade relations are characterized by a little share in the global economy and dependence on foreign trade.

The post-war trade was insignificant due to the need for reconstruction of the destroyed economies. Finland was economically tied with Sweden, our focus on eastern countries was deepening particularly after 1948.

In the 70s of the 20th century, Finland signed with Czechoslovakia and other East bloc countries an agreement on mutual removal of trade barriers, known as KEVSOS. The agreement was a unique trade act of its kind because it enabled almost free movement of goods between the countries of a different political orientation. KEVSOS ceased to exist in 1995 when Finland joined the EU. After that, the Interim Agreement came into force, which - to some extent - worsened trade terms for our exports.

In the history of the independent Czech Republic, the bilateral trade development with Finland has gone through two different stages. Until 2004, the trade balance had been negative, since 2005 it has been in surplus. Our exports have risen on average by 18%. Finland occupies around the 20th place in the foreign trade statistics. A key export item is Skoda cars, also steel products, tyres, TV sets and the most favourable Czech product - beer. The Czech Republic is also successful in the export of services.

The Czech firms can offer goods with high added value, like public means of transport or engineering goods for the energy sector.