11 Mar Short-sighted cuts will not support Finland’s growth – quite the contrary
International economic relations and development cooperation are a central part of Finland’s foreign and security policy.
They are connected to international stability and security, and, at the same time, they are channels of influence for foreign policy.
International economic relations and development cooperation build bilateral and multilateral cooperation and strengthen Finland’s political capital in foreign policy. They link Finland to international stability and security and enable Finland’s economic growth.
Conducting foreign policy is necessary and has not disappeared from the concept of “foreign and security policy”, even if the security situation has changed. Quite the contrary.
International economic relations and development cooperation are evidence of the sustainability of the multilateral system in a time when the international rules-based system, democracy and human rights are being questioned.
We must strive for long-term policies and predictability in international economic relations and development cooperation. This will ensure Finland’s global impact and support the continuity of the activities of development aid organisations. Furthermore, this strengthens confidence in Finland’s commitment to development cooperation.
In addition to the war of aggression launched by Russia, the world is full of wars and crises, instability, poverty and inequality. Climate change and biodiversity loss are fundamental, cross-border threats to all nations.
Nonetheless, there is more money in the world than ever before, and the big question is how is wealth and economic growth to be distributed?
Partnerships based on international economic relations and development cooperation strengthen the international rules-based system. This is what the world needs right now.
Finland must be a global actor in international economic relations and development cooperation.
Cooperation and dialogue are needed, for example, with China and other BRICS countries to combat significant cross-border threats such as climate change, or to tackle issues relating to international peace and stability. The importance of Africa, Central Asia and South America will also grow.
The key goals of Finland’s development policy must continue to be eradicating poverty, reducing inequality, implementing the UN Agenda 2030 for sustainable development and supporting human rights.
This requires genuine private sector engagement. It does not sideline public development aid but complements traditional grant-based development aid.
Therefore, Finnish companies must be more strongly involved in development cooperation projects. Economic security requires diverse partnerships to reduce vulnerabilities.
We need to find concrete solutions quickly; we do not have time to wait. The reform of the Team Finland network has already taken too long.
The EU Global Gateway organisation and its strategies should not remain a mere plan, instead we must be able to deliver results.
Companies operating in development cooperation sectors must respect human rights and take environmental impacts into consideration. This responsibility does not disappear just because investment targets are in developing countries.
We must promote fundamental employment rights and emphasise decent work conditions as part of international economic relations and development cooperation. According to the report of the Foreign Affairs Committee, a better working life and sufficient income strengthen social well-being and the economy, and thereby promote social stability, also creating better operating conditions for Finnish companies.
Development cooperation and commercial and economic relations create foreign policy capital and enhance the international growth of the Finnish economy. Finland needs both to be bigger globally and boost international trade and to succeed, for example, in the UN Security Council campaign.
Short-sighted cuts do not support Finland’s growth – quite the contrary.