• Wed. May 29th, 2024

Finland’s Forward Thinking: Navigating a Shifting European Landscape

BySamantha Nguyen

Mar 26, 2024
An EU Export Support Instrument is Essential for Finland

Finland’s interests are at stake in the EU, but not because of nagging, rather due to bold openings for the future of Europe. The Central Confederation of Business (EK) has called for a reflection of Finland’s EU guidelines in light of recent developments that have shown a shift in the country’s stance on open competition in the EU internal market.

The EU is freeing up state subsidies and creating joint responsibility funds under the guise of successive crises, leading to publicly financed “industrial policy” for years to come. This has put Finland at risk of losing out on competitive advantages in key industries. Germany and France dominate EU state aid, with Germany committing significant funds to boost its industry compared to Finland’s smaller investments.

To address this competitive situation, Finland is exploring its industrial policy alternatives, including a high-tech export support instrument proposed by the Ministry of Transport and Communications and the Ministry of Foreign Affairs. This instrument aims to benefit Finnish companies and strengthen Europe’s global position against competitors like China. The focus is on protecting critical technologies and ensuring competitive financing terms for EU-acquired technologies.

Finland’s expertise in efficient data processing and data transfer could benefit from EU-level support for future technologies. It is essential for Finland to take bold steps towards securing its competitive edge in the ever-evolving global market.

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

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