The moment is now for Finnish-U.S. business
IN 2020, the U.S. was the only country in Finland’s
top seven export markets to which exports increased.
The U.S. is now Finland’s second-largest
trading partner, almost on par with Sweden, and
is also the second-largest source of foreign direct
investment to Finland.
When I first read these data points – brought to
you through our Finland Supplement to the Transatlantic
Economy Report – my first reaction was
pride. This growth tell us that even during a politically
turbulent year, where all countries navigated a
global pandemic, the economic relationship between
the U.S. and Finland remained firm.
In my role leading Amcham Finland, a significant
part of my job is working with policy makers
on both sides of the Atlantic, sharing information
with our members, and creating opportunities for
people to make the connections they need. This includes
talking to decision-makers about the opportunities
that the transatlantic relationship offers.
Our team of eight works hard to save our members
time, money and reduce their risk when entering
and growing in the U.S. market, and to help multinationals
in Finland share best practices and grow
their business successfully.
This spring, we wanted to definitively highlight
the importance of the economic relationship between
the U.S. and Finland, so we published the first ever
Finland Supplement to the Transatlantic Economy
Report 2021. To support and promote the transatlantic
relationship, Amcham Finland has annually
co-sponsored the Transatlantic Economy Report,
compiled by AmCham EU and the U.S. Chamber of
Commerce, providing readers with the most up-todate
picture on the economic relationship
between the U.S. and Europe. Publishing the
inaugural Finland supplement is an important step
in bringing confidence and valuable insights to our
growing transatlantic community.
The report is packed with statistics and insights
on trade, investment, digitization, med-tech and
more. Along with discussing U.S. investments to
Finland, the supplement also looks at the increasing
role of services exports. While exports of goods
from Finland to the U.S. increased by just 1% in
2020, exports of services increased by 34% yearon
year. This says a lot about where the opportunities
lie going forward. The U.S. and Finland are
in the midst of growing a modern and high-tech
trading relationship based on knowledge-transfer
and data flows. The life-sciences sector is emerging
as incredibly important for both countries, as are
opportunities in clean-tech, renewable energy and
I strongly urge you to download the report to
understand more about the massive opportunity in
front of us. Together, Finland and the United States
can build an even brighter future. When our companies,
universities and organizations work together,
we are more innovative and create more value for
society than we would apart.
The U.S. economy is set to grow 5,1% this year
(source: IMF). With President Biden’s vaccine rollout
proceeding apace and by allowing the economy
to heal, there is more opportunity than ever for Finnish
U.S. business to thrive. Simply put, there has
never been a better time to plan and to grow your
Finnish business in the United States. The time to
act on transatlantic business is now.
Alexandra Pasternak-Jackson, CEO at Amcham Finland, is working to make Finland a more open and
international place to do business and to help Finnish companies navigate the US market. She has taught
on the importance of networking as well as held non-profit board positions, both in Finland and the US.
Alexandra holds an MBA from Haaga Helia University of Applied Sciences and a BA from the Elliott
School of International Affairs at the George Washington University. She lives in Helsinki with her Texan
husband and two kids.
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