Green transition: Finland sees enormous potential to enhance collaboration with Bangladesh

Noting an increasing interest among the Finnish private sector towards Bangladesh, Finland's Under-Secretary of State (International Trade) Jarno Syrjälä has said there is enormous potential to enhance the collaboration between the companies in the field of green transition.

"To name a few, energy, water, and the circular economy are areas where the benefits for both parties seem obvious," he told UNB in an exclusive interview highlighting their focus on sustainability and digitalisation.

These are also areas where Finnish businesses can bring state-of-the-art solutions, Syrjälä said, adding that some Finnish companies are among the global leaders in energy and waste-to-energy solutions.

"Our companies can also provide efficient technologies in wastewater treatment and water body cleaning," he said.

Syrjälä said Finnish companies can provide top-class expertise in smart and sustainable solutions, be it in the fields of energy, ICT, infrastructure, or circular economy and the textile industry.

"While the economic collaboration is still on a modest level, the recent business delegation visit proves that there is increasing interest among the Finnish private sector towards Bangladesh," he said.

The programme of the delegation was strongly tuned on B2B-contacts and building new partnerships.

"Challenges are often around finding the right contacts and information, but I think a lot of these were tackled during our trip to Bangladesh," said the Under-Secretary of State on International Affairs.

Asked about steps being taken to enhance economic cooperation and trade between Finland and Bangladesh, the Under-Secretary of State said the recent visit of a Finnish business delegation to Bangladesh including the companies Coolbrook, Elematic, Konecranes, Mirasys, Routa Digital, Wirepas and Wärtsilä was clearly such a concrete step.

"I hope the visit facilitated meaningful connections between Bangladeshi and Finnish companies, and that even more Finnish companies will get interested in the Bangladesh market as a result," he said.

In digitalisation, the Under-Secretary of State said they recognise Bangladesh's impressive progress in the last years.

"Smart digital solutions, ICT, AI and cybersecurity are areas where our countries could potentially deepen mutually beneficial cooperation" he said, adding that Finland has globally recognised expertise in ICT, digital governance, and cybersecurity. Digitalisation, ethics and digital security must all go hand in hand.

The Under-Secretary of State said Finland has a national cybersecurity center and a whole-of-society approach to cyber resilience, which might also be interesting for Bangladesh.

He said they had seven innovative Finnish companies as part of their business delegation-- all of them are already exploring investment opportunities in the Bangladeshi market.

"Their focus areas include energy, precast construction solutions, logistics, smart metering, intelligent traffic management, low-emission technologies for heavy industries such as cement, chemicals and steel, as well as digital transformation of businesses," he said.

The democratic reform process of Bangladesh bears relevance also with respect to the LDC-graduation, as transition from the EU's EBA-system to the GSP+ arrangement entails consistent work in the fields of sustainability and human rights, including labour legislation, said the Under-Secretary of State.

"With this in mind, we have already seen positive steps by the interim government, and encourage Bangladesh to maintain a strong focus on fulfilling the obligations of international conventions, in line with GSP requirements," he said.

Responding to a question, Syrjälä said Finland can offer high-quality solutions in digitalisation and sustainability, for example in renewable energy solutions.

"Another example is the textile sector that likely continues to play an important role in Bangladesh's economy. Because of the huge impact of the textile industry, sustainability is important, and our companies can provide efficient technologies in wastewater treatment, circular textile, and in water body cleaning," he said.

Regarding Bangladesh's foreseen LDC-graduation, Syrjälä said they are happy that Bangladesh has participated in the series of annual LDC Future Forums that Finland organises together with the UN.

"These Forums support LDCs in harnessing their full potential to eradicate poverty, achieve economic growth, and advance sustainable development. This year, the meeting took place in Lusaka, Zambia and next year again in Helsinki"

Syrjälä said the EU's Global Gateway presents significant opportunities to enhance EU investments in critical digital infrastructure, and Finnish companies are currently exploring participation in Global Gateway projects in Bangladesh.

He said Finland has one of the highest-quality education systems in the world, as shown by consistently high rankings in third-party international studies.

An OECD study in 2018 estimated that many jobs in developed countries could be lost during digital transformation.

"Our education systems need to innovate and adapt just like the rest of the world is evolving. The modern education system needs to focus on the human, provide them with the skills needed in the new knowledge-based economy and allow for lifelong learning," Syrjälä said.

Finland believes that international cooperation in education is essential.

"Finnish companies and institutions are eagerly looking for international partners so we can help each other improve. Education Finland is a national education export program, offering Finnish educational know-how and learning solutions globally, so that would be the best place to start looking for collaboration opportunities," Syrjälä said.

Collaborating on Environmental Sustainability

Syrjälä said Finland remains committed to achieving Sustainable Development Goals, including on climate change and environmental sustainability.

"Finland promotes sustainable development through a whole-of-society and whole-of-government approach and we have found this model successful," he said.

Both Finland and Bangladesh will submit voluntary national reviews on achieving SDGs this coming July. I hope we can exchange experiences of the reporting process and our national SDG action plans," said the Under-Secretary of State said.

Regarding climate cooperation, at COP28 in 2023, world leaders acknowledged the need to move away from fossil fuels.

It will be crucially important for all countries, especially the largest emitters, to deliver strong, new commitments to reduce emissions at COP30 in Brazil this year, Syrjälä said.

He said Finland, as a member of the EU, is committed to reducing emissions and delivering on its international climate finance commitments.

"During my trip to Bangladesh, I heard that Bangladesh is also in the process of updating nationally determined contributions (NDCs) and also a National Adaptation Plan. I was happy to note Bangladesh's strong commitment to climate action," Syrjälä said.

Finland provides the majority of its climate funding through multilateral channels.

"We are supporting climate action also in Bangladesh through the Green Climate Fund and the multilateral development banks. We stand ready to offer our solutions to climate change mitigation and adaptation," he said.

Syrjälä said they have a long history in supporting developing countries especially in Early Warning Systems.

During the past decade, he said, Finland has financed the improvement of weather and climate services of over 50 national meteorological and hydrological services around the globe.

Current State of Bilateral Relations

Syrjälä said bilateral relations between Finland and Bangladesh are good and friendly, but interaction has been sparse over the last few years.

"In early April, we had bilateral consultations between our foreign services combined with a business delegation visit and that was no coincidence," he said, adding that they see a lot of untapped potential in the bilateral trade and investments.

"And I am convinced that we will witness many new concrete initiatives in the near term, for the benefit of both parties," he said.

Cultural Exchange

Syrjälä said people-to-people connections and cultural exchanges are important, as they foster learning and mutual understanding.

"There is a growing Bangladeshi minority in Finland – according to official statistics, 6 300 people in 2023 – that contributes to our society and labor market. Finns in Bangladesh are still few, and tourism is small in both directions," he said.

Syrjälä said there is potential to increase connections. Mobility, be it in the form of tourism, professional workforce, or students, will have positive implications to both countries.

"Regarding cultural exchange, I am not aware of any specific bilateral projects, but I have come to know that there are some musical talents among the small Finnish community in Bangladesh and they are regularly performing in Dhaka," he said.