We are here today at Stora Skoghall Mill to inaugurate a liquidboard machine which is both the largest in the world and technologically the most advanced. The construction of a machine of this kind is the result of extensive co-operation between individuals, companies and countries. More than one thousand people representing many different fields have laboured here in Karlstad for a couple of years in order to transform the original ideas and drawings into a functional entity. This end result has been achieved after years of research and practical experience at both Valmet and Stora.

Overall, this venture is also an excellent example of the opportunities afforded by combining Finnish and Swedish expertise. Here in the 'Finnish woods' or Finnskogen, of northern Värmland, we have a tradition of working together that goes back to the 16th century. Today, Valmet-Karlstad AB is the largest private employer in the municipality, with some 800 employees.

Valmet and Stora are working together to make Karlstad an important centre for research and development.

The globalization of world trade has an especially powerful impact on the paper processing industry. Its markets are world-wide and shareholders are increasingly international. In this competition, Valmet has consolidated its position as a leading manufacturer of paper machines. In this particular venture, Valmet's high standard of technology has complemented Stora's special competence in boardmaking.

Nevertheless, the strong Nordic forest industry sector remains the foundation of both Valmet's and Stora's operations. Apart from meeting the needs of markets and customers, the paper industry must now focus its attention worldwide on new factors relating to competition and quality: job satisfaction, the environment and the availability of wood fiber. By co-operating the Nordic countries can achieve better results here, too. All in all, industrial co-operation between Finland and Sweden is important and has intrinsic value. It is also important for the Baltic region as a whole.

I wish all the parties to this undertaking every success also in the coming years.