Nordic resilience: Strengthening cooperation on security of supply and crisis preparedness

Against the backdrop of the COVID-19 crisis and Russia’s aggression in Ukraine, crisis preparedness and security of supply have taken on a new urgency. The recent events have demonstrated the fragility of many of the international flows of critical goods, products and services on which the Nordics also depend. As one of the most interconnected regions in the world, it is only through cooperation that the Nordics can avoid supply disturbances and crises that cascade throughout the region.The Nordics are well placed to enhance such cooperation. Based on extensive comparative analysis, the report shows how the Nordics share key characteristics in their approach to crisis preparedness and security of supply. What this report calls the Nordic resilience approach thus also forms a solid basis for joint action at the regional level.Finland’s and Sweden’s pending NATO accession will further strengthen the potential for Nordic cooperation. It is with this potential in mind that the present report investigates Nordic crisis preparedness and security of supply models, reviews existing cooperation and provides practical recommendations on how to jointly strengthen Nordic resilience.</p

Europe Facing Geoeconomics : Assessing Finland’s and the EU’s Risks and Options in the Technological Rivalry

The geoeconomic rivalry is accelerating with the world’s major powers using economic instruments to advance strategic agendas. This poses a challenge to the EU and its member states. The EU’s market-oriented approach to international economic engagement exposes it to risks arising from the geoeconomic power politics of other major powers. These risks are especially acute in the technological domain where Europe’s competitiveness has been decreasing and its strategic dependencies on China and the United States growing. This report examines the risks and options for the EU and one of its member states – Finland – in adapting to the rise of geoeconomics. The report shows how the risk picture for European businesses are undergoing change, highlighting the need to incorporate geoeconomic dynamics into existing risk assessments. It also surveys emerging EU and Finnish policy instruments for managing strategic interdependencies and associated risks. The report gathers in-depth data on European and Finnish interdependencies with China and the United States, taking stock of critical strengths and vulnerabilities. Key policy recommendations following from this analysis focus on 1) introducing national geoeconomic risk assessments; 2) increasing strategic coordination of technological governance; 3) promoting trade cooperation; and 4) ensuring a level playing field for European companies.This publication is part of the implementation of the Government Plan for Analysis, Assessment and Research. (tietokayttoon.fi) The content is the responsibility of the producers of the information and does not necessarily represent the view of the Government