Mon. Jun 17th, 2024
An export support instrument is needed for Finland in the EU

Finland’s Future in Europe: Bold Moves or Being Pushed into a Corner?

As the world becomes increasingly globalized, Finland must take bold moves to secure its future in Europe rather than being pushed into a corner by nagging issues. The recent shift towards state subsidies and joint responsibility funds under the guise of crises presents a challenge for Finland to respond to and protect its national interest.

The current discussion in Parliament over the government’s EU influence program reveals a longing for the return to the past, but this may not serve Finland’s interests well. The unequal distribution of state aid among EU countries, with Germany and France taking the lion’s share, puts Finland at a competitive disadvantage. It is clear that staying passive will not improve Finland’s competitive situation.

To address this challenge, business and academia representatives are urging Finland to present its own industrial policy alternatives to protect its interests and enhance its competitive position. The Ministry of Transport and Communications and the Ministry of Foreign Affairs have proposed an export support instrument to the EU, which could benefit Finnish companies and strengthen Europe’s global position.

Finland’s expertise in data processing and transfer could greatly benefit from EU-level support for future technologies. To ensure public funds are used neutrally and competitively, it is crucial that the EU and European Investment Bank create an export support instrument that guarantees competitive financing for critical technologies acquired from the EU. This would particularly benefit small member states like Finland.

Overall, Finland must take bold moves to present its own industrial policy alternatives if it wants to protect its interests and enhance its competitive position in Europe. Staying passive will not improve Finland’s situation in the face of changing dynamics in the EU and global markets.

By Aiden Nguyen

As a content writer at newscholarly.com, I delve into the realms of storytelling with the power of words. With a knack for research and a passion for crafting compelling narratives, I strive to bring forth engaging and informative articles for our readers. From decoding complex concepts to unraveling current events, I aim to captivate and educate through the art of writing. Join me on this journey as we explore the ever-evolving landscape of news and knowledge together.

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