Finland’s Ambassador to Egypt, Riikka Eela, has said there is strong untapped potential to expand trade and investment between Finland and Egypt. She highlighted growing momentum in economic relations and pointed to major opportunities in trade, technology, sustainability, and logistics.
In an interview, the ambassador said both countries are moving toward stronger economic cooperation, supported by rising business engagement. She noted that while trade has grown steadily in recent years, it still remains far below its full potential.
Latest data shows Finnish exports to Egypt reached about €456 million in 2024. Most of these exports are goods, especially forest-based products such as timber, paper, and pulp. However, Finland’s total global exports are over €111 billion, meaning Egypt still represents a very small share, leaving room for growth.
Egypt is currently Finland’s largest export destination in Africa. The ambassador said this makes Egypt an important market for Finnish companies, even ahead of Gulf Cooperation Council countries in the region.
On the Egyptian side, exports to Finland reached €88 million in 2024. These include fertilizers, chemicals, textiles, glass products, and agricultural goods such as fruits and vegetables. Officials say this exchange shows balanced but still limited trade flows.
A key area for future growth is services. While services make up around 35% of Finland’s global exports, they account for only 6% of exports to Egypt. The ambassador said this gap shows strong potential in digital services, consulting, and advanced technology solutions.
Finnish companies already have a presence in Egypt across several sectors. Huhtamäki operates three manufacturing facilities in the country and has received a Golden Licence. HMD Global has established mobile phone production in Egypt, while Nokia is active in telecommunications and digital infrastructure. KONE is also involved in construction and transport systems.
The ambassador said Egypt is attractive for investment due to its strategic location, large population, and ongoing economic reforms. She emphasized that governments can support investment, but final decisions depend on companies. Diplomatic missions aim to provide information and encourage partnerships.
She also pointed to strong opportunities in machinery, ICT, and healthcare. These sectors are expected to attract more Finnish investment in the coming years.
Digital cooperation is seen as a major growth area. Finland is known globally for its advanced ICT systems and digital public services. The ambassador highlighted Finland’s experience in e-governance, online taxation, and digital service platforms. She said these systems could offer useful models for cooperation with Egypt.
Egypt’s own “Digital Egypt” initiative was described as a strong foundation for deeper collaboration. Future cooperation could include artificial intelligence, secure mobile networks, data centres, and broader digital transformation projects.
Sustainability is another key focus. Finland is supporting circular economy programs in Egypt, including initiatives implemented with international partners. These projects aim to improve resource efficiency and reduce waste in industrial production.
Finnish companies are also involved in green technology. One example is Nokia’s refurbishment centre, which helps extend the life cycle of telecom equipment. Energy company Wärtsilä is also developing hydrogen-based power solutions, which could support Egypt’s energy transition goals.
Despite strong cooperation, the ambassador noted some challenges. Administrative procedures and customs clearance remain areas that need improvement. She said addressing these issues would help Egypt become a stronger logistics hub for Africa and the Middle East.
She added that Finland works within the European Union framework on trade policy and maintains ongoing dialogue with Egyptian authorities to improve business conditions.
Egypt’s geographic position was described as a major advantage. It serves as a natural logistics gateway between Africa, Europe, and the Middle East. Its role in the African Continental Free Trade Area also opens access to wider regional markets.
The ambassador also highlighted emerging sectors for cooperation. These include gaming, startups, and healthcare innovation. Finland has a strong gaming industry and hosts major global tech events such as Slush, which connects startups with investors.
She said Egypt’s young startup ecosystem offers strong potential for collaboration with Nordic innovation hubs. Joint initiatives like the Nordic Tech Hub in Cairo are already supporting this connection.
Looking ahead, both countries aim to strengthen trade, investment, and innovation ties. The ambassador said long-term cooperation is based on trust and shared goals built over more than a century of relations.
With growing interest in technology, sustainability, and logistics, Finland and Egypt are expected to deepen their partnership further in the coming years.
