Finland’s Future in Europe: Navigating State Subsidies and Joint Responsibility Funds to Boost Competitive Position

An export support instrument is needed for Finland in the EU

Finland’s future in Europe is at risk due to recent changes in the EU internal market that have led to a shift towards state subsidies and joint responsibility funds under the guise of crises. This has put Finland at a competitive disadvantage, as unequal distribution of state aid among EU countries favors Germany and France. The current discussion in Parliament over the government’s EU influence program reveals a longing for the past, but staying passive will not improve Finland’s situation.

The Central Confederation of Business (EK) has called for a reflection of the changed situation in Finland’s EU guidelines. 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.

However, this is not enough. The EU and the European Investment Bank must create an export support instrument that guarantees competitive financing for critical technologies acquired from the EU. This would benefit small member states like Finland and ensure public funds are used neutrally and competitively. Furthermore, Finland’s expertise in data processing and transfer could benefit greatly from EU-level support for future technologies.

In conclusion, Finland must make bold moves to protect its interests and enhance its competitive position in Europe by presenting its own industrial policy alternatives, promoting an export support instrument that guarantees competitive financing for critical technologies acquired from the EU, and leveraging its expertise in data processing and transfer. Staying passive will not improve Finland’s situation in the face of changing dynamics in the EU and global markets.

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