Finns can also help Bangladesh manufacture value added garments, said a visiting Finland business delegation comprising world famous companies like Nokia and Wartsila as well as officials of its embassy in New Delhi.

The business delegation and officials had a lengthy meeting on potential trade between the two countries and Finish investment in Bangladesh with leaders of Federation of Bangladesh Chambers of Commerce and Industry (FBCCI).

Addressing the meeting, FBCCI President Abdul Awal Mintoo said there are enormous prospects of economic co-operation as well as trade, commerce and investment between Bangladesh and Finland as Dhaka can provide low-cost production base in several sectors.

He said the volume of bilateral trade does not reflect the full potential. "If the bilateral trade is further facilitated, Bangladesh can offer leather products, porcelain wares, pharmaceuticals, textiles, chemical products, toiletries and light engineering goods."

The trade between Finland and Bangladesh is insignificant. In 2002-03, Bangladesh imported only $ 8.28 million worth of goods from Finland and exported only $ 27 million to Finland, FBCCI officials said quoting official data.

The Finn trade delegates, referring to their successful operation in Kolkata, India and Sri Lanka, particularly laid emphasis on water projects in Bangladesh and said they are eager to fund viable projects for safe and portable water.

"Finland has the best technology in water management. We have the money. Come up with viable projects, we'll fund," said Dr Anand K Sethi of FinnFund, the Finnish Fund for Industrial Cooperation Ltd. "People are willing to pay good money for safe and portable water," he added.

Among the business delegates were Caj Soderlund, minister counselor of Finnish Embassy in India, Nokia India Director Mukesh Dingh, Indian Country Manager of Finland Trade Centre Vipul Chauhan and Nasrine R Karim of a joint business forum of the two countries.

The meeting was also attended by FBCCI vice presidents Kamaluddin Ahmed and Abul Kashem Haider and directors Mir Nasir Hossain, MA Rouf Chowdhury, Dewan Sultan Ahmed and Khurshid Ali Mollah and former Dhaka Chamber president MH Rahman.