Ambassador Laura Davies’ interview with the Finland Chamber of Commerce
Bilateral trade UK-Finland
As a new Ambassador, would you please share with us on your mission statement for Finland?
Of course! I want the UK and Finland to remain the closest of allies on security and defence. I want us to develop our bilateral trade, where there are so many opportunities, particularly in clean energy, defence and new technologies. And, personally, I want to keep exploring Finland as much as I can!
The UK Government is a fairly new one and preparing its longer-term programme – what kind of initiatives do you envisage that may open possibilities to increase our bilateral trade? For example, the New Industrial Strategy?
From the day it came to power last summer, the Government has been clear that its first mission is Growth. The new Industrial Strategy is a big part of that. Having this kind of strategic framework really matters because it sets out the direction of travel and provides a clear route map for business. Here are the headlines: we need growth, but not at any price. In other words we need growth that also contributes to economic resilience and that is clean, ie that also contributes to climate targets.
The Industrial Strategy is international by default. It is supported by a raft of initiatives to make it easy and attractive to invest in the UK. We are one of the world’s largest trading countries, with one of the most globally connected economies. A strong pro-entrepreneurial environment means we have several of the most successful start-up hubs in Europe and the world’s third largest venture capital market. We are the top provider of green finance products and services worldwide. All eight priority sectors in our Industrial Strategy, including clean energy, defence, digital and technologies, and advanced manufacturing will be relevant for Finnish companies wanting to grow in the UK. And add to that: all Finns speak perfect English! So the way I see it, the UK should absolutely be a priority destination for Finnish companies.
What business opportunities (e.g. in R&D) do you see for further cooperation between Finnish and British companies, and in which fields?
So many! I’ve visited many cutting-edge companies in Finland already, so I know we are a good match for each other in capability and ambition across the piece. But here are just a couple of examples. The new Oxford-Cambridge growth corridor is a really interesting one for any Finnish company focused on R&D from AI to life sciences. Running between two of the world’s top ten universities, it will see a new large scale innovation hub open in the centre of Cambridge, and the UK’s first AI Growth Zone in Oxfordshire. Loads of opportunities there.
And on AI more generally, Prime Minister Keir Starmer launched an AI Opportunities Action Plan in January. This acts on 50 recommendations for AI development made by the private sector, including around access to talent, data, and computer power. It also commits to using more AI in the public sector to improve our efficiency and productivity. Finnish companies are really well placed to take advantage of this, and I’d love to see them do so.
It’s worth remember that the UK has been a full member of Horizon Europe since last year, and that all our government research programmes are open to international partners, particularly from the EU. That’s partly because we share common values, and it is in our mutual geopolitical interest to develop emerging technologies together. But also, our systems and supply chains are deeply interlinked, so working together will make us all more competitive.
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How do you assess the impact of the ever-evolving geopolitical development on British business?
Well, there’s certainly no shortage of news these days! My Prime Minister likes to say that if his first mission is growth, then his first duty is security. And he’s right that you can’t really separate the two. The more we can grow the economy, the more resilient we will be – and the more we will have to spend on our own defence, and that of our allies.
The UK Government came to power last summer with a determination to forge strong alliances with the EU and its Member States. On security and defence, of course, but also to improve our trading relationship – which can only benefit our mutual economic resilience. On 19 May, the UK will host an EU-UK Summit in London – the first in what is set to become a regular series. Easing barriers to trade benefits us all!
And more than ever before, technology is the frontline of geopolitics – which brings me back to AI. Like no technology before it, it will shape not just our economic prospects, but our national security, our welfare state and the pace of our transition to a clean economy. We’re in a hyper-competitive race and so it is essential that allies like the UK and Finland work ever more closely together here.
What role do free trade agreements (FTAs) play in the UK’s current trade strategy?
They’re not the only tool, but they are an important lever for driving growth. We’ve got FTAs with Japan, Australia and New Zealand, and acceded to CPTPP last December, which opens up access to high-growth economies across Asia and the Pacific. And there will be many more trade talks starting soon, beginning with Gulf Cooperation Council, India, Israel, South Korea, Switzerland and Turkey. Watch this space!
I'm a multilateralist at heart - my last role was as Ambassador to UNESCO. But also a realist. The UK will continue to support the WTO rules which are so essential to our exporters, but you’ll also see us forming new coalitions of the willing to build momentum behind specific initiatives, particularly those contributing to Growth and Net Zero. For example, we are supporting a plurilateral initiative at the WTO on e-commerce which would vastly increase the potential of digital trade.
The UK has recently launched ETA, the new travel document. How do you see its impact on business travelling and tourism?
I don’t see it having any real impact, just as I don’t see EU’s Entry/Exit System, or EES, having any real impact on travel the other way when that’s rolled out later this year. We don’t yet have stats from Europe, but from the earlier roll-outs, it’s great to see that nearly 99% of ETAs were issued without delay. Most come through in a matter of minutes, but you will need one if you are travelling to the UK on a European passport from 2 April 2025, so don’t forget to apply.
Everyone knows The London Bridge and Madam Tussaud’s. Where would you take your international guests to visit now?
In London, I live right by Tower Bridge, and I always encourage guests to walk along the river from my flat to the Houses of Parliament and Big Ben. You see the best of London: St Paul’s, the Globe Theatre, the Tate Modern, along with some great markets, old, cobbled streets and museums – and it’s all pedestrian! If you can get beyond London, then get inspiration from this map of all the UK’s UNESCO sites or the new clip Starring Great Britain – even if you aren’t visiting the UK anytime soon, it’s fun to spot all the films and their locations!
Information on the British Embassy can be found here.
31st March 2025
