The success of the Dutch, British and French East India Companies led the merchants and shipowners of Ostend in the Austrian Netherlands to desire to establish direct commercial relations with the Indies.
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The reaction from the Swedish government was reluctant: the closing of the Ostend Company in 1731, based in Ostend in the Austrian Netherlands and closed down in 1731 following British pressure as part of the Treaty of Vienna boded ill for the Swedes' competition against the main powers, where trade and politics were so intimately associated.
Ostend Company was a merchants' company made to trade with the Indies, chartered by 1722 in the Austrian Netherlands.