Finland seeking to reduce economic dependence on China

It is estimated that half of the mobile phones and two-thirds of the laptops used in Finland are produced in China.

Finland is dependent on China, and now is the right moment to reexamine the situation and make a new dependency analysis, according to Nina Vaskunlahti, the Finnish Foreign Ministry's Under-Secretary of State for external economic relations.

The purpose of such an analysis would be to gain better understanding and arouse more discussion about China and its impact, Vaskunlahti told Yle's Radio Suomen Päivä programme on Friday.

"China is still an important trade partner for Finland. About five percent of Finland's trade goes to China, exports amount to about four billion euros. We depend on China for critical raw materials and components," Vaskunlahti told Yle.

She added that, for example, half of the mobile phones in use in Finland come from China, and about two-thirds of all laptops.

Reducing this dependence would require finding alternative sources of raw materials.

"Thought has been put into how to increase the production of components in Finland," Vaskunlahti noted.

Vaskunlahti also took up the role of the green transition and the commitment to reducing emissions. She pointed to the lesson learned about energy dependence after Russia's attack on Ukraine.

"The green transition is a way for us to survive and build this world for future generations as well," she said.

Of the 30 raw materials classed as critical by the EU Commission, 19 are largely found only in China, while 14 critical minerals can be found in Finland.

Finland's dependency on external sources will be reduced as much as possible and self-sufficiency will be increased, according to Vaskunlahti.

"However, we must remain open to global trade and cooperation. We must remember that not all dependency is harmful," she told Yle radio.