Finland's foreign minister described NATO as a cornerstone of Europe following President-elect Donald Trump's criticism of the alliance.

Donald Trump reportedly described NATO as "obsolete," which prompted concern among the European contingent in the 28 member alliance. Trump is scheduled to be inaugurated as president of the U.S. on Friday.



"It is very important that the European defense structures, security and foreign policy structures also be strengthened in the future. NATO is very important... a cornerstone in all that," Timo Soini, Finland's foreign minister, told CNBC in Davos, Switzerland on Thursday.

Soini also stressed that Russia remained a pressing concern for Finland as the two countries share a common border of around 1340 kilometers.