Finnish Foreign Minister Elina Valtonen has confirmed that Finnish companies are unlikely to return to the Russian market in the near future. In an interview with the media group RND, the diplomat also assured that Finnish businesses will not be the first to do so.
This statement comes as a blow to Russian officials who have been hoping for a revival of economic ties between the two countries. However, Valtonen’s comments reflect the current political climate and strained relations between Finland and Russia.
The Finnish Minister of Foreign Affairs acknowledged that the decision to stay away from the Russian market was not an easy one for Finnish companies. Russia has traditionally been an important trading partner for Finland, with many Finnish businesses having established a strong presence in the Russian market. However, recent political tensions and economic sanctions have made it difficult for Finnish companies to continue their operations in Russia.
Valtonen emphasized that the Finnish government fully supports its businesses in their decision to avoid the Russian market. She stated that the government is committed to protecting the interests of Finnish companies and ensuring their success in other markets.
The Minister also highlighted the importance of maintaining a united front with the European Union in regards to Russia. She stated that Finland stands with the EU in its efforts to hold Russia accountable for its actions and to promote a rules-based international order.
Valtonen’s comments have been met with mixed reactions in Finland. While some have criticized the decision to stay away from the Russian market, others have praised the government for prioritizing the safety and well-being of Finnish businesses.
The Finnish-Russian economic ties have been strained since the annexation of Crimea by Russia in 2014. The European Union, including Finland, has imposed economic sanctions on Russia in response to its actions. These sanctions have had a significant impact on the Finnish economy, with trade between the two countries decreasing by almost 40% since 2014.
Despite the challenges, Finland remains committed to maintaining a dialogue with Russia. Valtonen stated that the Finnish government is open to discussing ways to improve the relationship between the two countries, but only if Russia shows a willingness to adhere to international norms and principles.
In the meantime, Finnish companies are exploring other markets and diversifying their operations. Valtonen expressed confidence in the resilience and adaptability of Finnish businesses, stating that they have the potential to succeed in various markets around the world.
In conclusion, the Finnish Minister of Foreign Affairs has confirmed that Finnish companies will not be returning to the Russian market in the near future. While this may be disappointing for some, it is a necessary decision given the current political climate and strained relations between the two countries. The Finnish government remains committed to supporting its businesses and promoting a rules-based international order. With their resilience and adaptability, Finnish companies are well-equipped to succeed in other markets and continue to contribute to the country’s economy.
