A recent study shows that free trade agreements have had positive impacts within the EU, but their direct impact on Finland has remained below the EU average. There has been a significant increase in Finnish exports to many countries covered by the free trade agreements, but in most cases this is mainly due to the growth of trade in general as a result of globalisation. However, in certain sectors, such as the forest industry and machinery and equipment manufacturing, free trade agreements have had a key role. In Finland their impacts are felt especially through the different value chains.

Prime Minister Juha Sipilä will make a working visit to Washington, D.C. on 26–28 November 2018. During his visit, the Prime Minister will meet with US political and economic leaders.

Internationalisation of value chains in the production of goods and services has significantly affected the structure of Finland’s foreign trade as well as conditions for export-led growth. The ability of exports to generate economic growth in Finland has weakened. At the same time, Finland has become more dependent on, among other things, the economic development of China. These are the findings of a study Finland in global value chains, prepared by the Research Institute of the Finnish Economy and the Secretariat of the Economic Council, which was published on 30 November.