The Finnish trade deficit reached a new record in 2011 at 3.6 billion euros. For several years now exports have been on the decline as a result of the dwindling importance of Nokia and its subcontractors. It's high time Finland did more to boost its exports, writes the business paper Kauppalehti: "Which sector could be the export locomotive of the future? Cleantech is the experts' usual answer. It comprises global growth sectors like energy, transportation technologies, water, recycling and clean industrial processes. The sectors on the rise are mining and renewable energies. Here we have a strong know-how in terms of machines and production facilities, and the demand is global. Finland's problem is the slow growth in the Eurozone. ... In exports, short-term and long-term measures are needed. And policies introduced in competing countries must be reacted to more swiftly. Export guarantees and export financing must be rationalised and promoted. Then next on the list is research and development, as well as tax policy." (08/02/2012)
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