An EU Export Support Instrument is Essential for Finland

Finland Takes a Hard Look at its EU Stance Amidst Changing Competitive Landscape: Exploring Industrial Policy Alternatives to Protect Critical Technologies and Secure Future Growth

Finland is facing a challenge to its interests in the European Union as state subsidies and joint responsibility funds are being freed up under the guise of crises. The Central Confederation of Business (EK) has called for a reflection on Finland’s EU guidelines in light of the changed situation. While Finland has always supported open competition in the EU internal market, recent developments have shown a shift in this stance.

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 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.

Finland must take bold steps towards securing its competitive edge in the ever-evolving global market by protecting critical technologies and ensuring competitive financing terms for EU-acquired technologies. It is essential for Finland to focus on its strengths in efficient data processing and data transfer and seek EU-level support for future technologies to remain competitive in key industries.

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