India and Finland had signed an agreement on economic cooperation back in 1967 under the GATT regime. On March 26, 2010, India and Finland have signed an Agreement on Economic Cooperation at Helsinki. This new agreement replaces the older version of the agreement.
Agreement seeks to deepen the engagement between the two countries through exchanges of investors, information and experts and also by developing opportunities for the two countries by exploring joint economic possibilities in third countries.
This agreement also envisages setting up a Joint Commission of experts with an aim to identify new business possibilities and also to identify and remove hurdles which could hamper mutual economic cooperation between the two countries.
It has also been decided to establish 3 Joint Working Groups in the areas of Innovation, Clean Technology and waste management and skill Development and Training.