By Staff Correspondent
Following the news of Finland and Sweden signing separate defence agreements with the UK; William Davies, Associate Defense Analyst at GlobalData, a leading data and analytics company, offers his view:
“The UK’s announcement that it has signed mutual aid agreements with Finland and Sweden is a significant move for the two nations that are moving away from their previous stance of neutrality. The agreement outlines that the UK will provide military assistance if needed, protecting Finland and Sweden during the process to formally join NATO.
“Finland and Sweden’s decision to join NATO is unlikely to have happened if it were not for Russia’s invasion of Ukraine. Joining NATO will be a significant move by the Nordic countries in an effort to protect themselves from a more belligerent Russia, which has stated that it would see their NATO ascension as a threat to its own security, even though NATO is purely a defensive institution.
“According to GlobalData, Finland is forecast to increase its overall defence spending to around $3.5 billion by 2025. The country is likely to fund further increases due to the ongoing threat that Russia poses. Sweden is forecast to increase its defence budget by 7.9% over the next 5 years reaching $12.5 billion by 2027 – this increase will fund the acquisition of new aircraft, submarines, and missile defense capabilities, which will significantly modernize Sweden’s defence capabilities.”