Ingves: The new geopolitical map and the Nordic region’s international influence

News Today Governor Stefan Ingves has been invited to the Bank of Finland after being awarded the Order of the White Rose of Finland, Commander First Class, earlier this year. In his speech, he highlighted the importance of Nordic-Baltic cooperation for Sweden and Finland to retain influence in important global economic contexts.

Economies in Asia and Latin America have grown in strength in relation to the United States and Europe. Apace with this, they are also expecting to gain greater influence in international economic cooperation, often at the expense of Europe. The emergence of the G20 and the FSB is another illustration of the changing economic power relations in the world. In these groups, the Nordic countries have no, or very little, representation.

For Sweden and Finland to retain their influence in the global economic context, Nordic-Baltic cooperation must be deepened. The Nordic-Baltic region is economically and financially well integrated, with a very advanced position in terms of innovation, and together these countries have the 17th highest GDP in the world. Coordinated action would strengthen their influence in international organisations.

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Updated 19/05/2022