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Professor Urpo Kivikari The Impact of Russian Economy on Finland Economic and Political Relations after the EU Enlargement Budapest 5-6 February 2004
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kotilainen/ven_vie_tuo_kSource: Tullihallitus Russian/Soviet share in Finnish Foreign Trade 1827-2002
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The Soviet Union & Finland + utilized the SU’s trade potential + secured demand for Finnish exports + anticyclical impact on Finnish economy + profitable to Finnish firms – alien to Finnish market economy – supported existing structures – created “dual economy” – caused recession in 1990’s Bilateral Clearing Trade until 1991: “Mutually beneficial”
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Russia as a Trading Partner Russia’s share (2001, %) in ExportsImportsExport/GDP Finland5,79,62,1 Germany1,61,80,5 EU151,11,6.. Hungary1,57,00,9 Poland2,88,80,6 Slovakia1,014,80,6
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The Effects of EU Enlargement Substantial increase in EU-Russia integration Russia becomes more important to the EU New EU member countries increase competition Northern Dimension = neighbourhood policy
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Future Prospects Actual trade > potential trade Russia ~ Sweden Inter-industry trade will dominate business Outward Processing Trade FDI – fastest growth Trade becomes ”more normal”
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