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HomeBusinessNew Finnish Government Urged to Improve Trade Routes Other than Baltic Sea

New Finnish Government Urged to Improve Trade Routes Other than Baltic Sea

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The Baltic Sea, in which a no-shipping zone was set up following last year’s Nord Stream leak, is also a trade route through which 95% of foreign trade is shipped, according to a statement from the Confederation of Finnish Industries, YLE reports.

Industries are urging the government that is currently in the process of being formed to look into new trade routes besides the traditional Baltic Sea due to possible interference, disruptions and even conflicts linked to the security situation.

The Baltic Sea, in which a no-shipping zone was set up following last year’s Nord Stream leak, is also a trade route through which 95% of foreign trade is shipped, according to a statement from the Confederation of Finnish Industries, YLE reports.

To ensure trade is not hampered too much, the group is calling on the next government to consider investing in northern rail and road routes in cooperation with Sweden and Norway.

The security situation on the trade route would also possibly increase insurance premiums, something that might tempt or force shipping companies to avoid the Baltic Sea area, the group said in its statement.

Based on the study compiled by Finland’s biggest infrastructure service company Destia, the Confederation of Industries also published a “list of recommendations” for the future traffic and transport policy.

Among its more concrete recommendations, the confederation urges Finland, Sweden and Norway to jointly seek investments from the EU and NATO for a route through Finland and via Sweden all the way to the port of Narvik in Norway.

Source: Euractiv

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