Government to strengthen Norwegian export with 100 million kroner

Iselin Nybø - Ine Eriksen SøreidePhoto: Terje Pedersen / NTB

The Norwegian government will spend NOK 100 million to strengthen exports in 2021. Furthermore, the innovation platform “Business Norway” is being established in order to boost collaboration with the business community.

On Tuesday, the government launched the export action plan named “For and with Norwegian business and industry.”

“The export companies create jobs and value in Norway. 

“Now they are going through a demanding period, and we will do what we can so that they can continue working after the corona crisis,” Minister of Trade and Industry Iselin Nybø (V) noted.

The government will create a new entity and gather expertise there to build stronger cooperation with business. 

It currently has the working name “Business Norway.”

“We propose to allocate NOK 75 million to a strategic investment in exports, through ‘Business Norway,'” Nybø said.

In addition, the government will spend NOK 20 million to strengthen the cluster program and NOK 5 million to promote Norwegian cultural exports.

Importance of predictable regulations

A temporary export panel will be appointed with representatives from the business community to provide advice and input to companies through Business Norway.

On Tuesday, Nybø presented the plan together with Foreign Minister Ine Eriksen Søreide (H) in the factory premises of the industrial company Nordox at Helsfyr in Oslo.

“Good and predictable market access is the basis for everything we want to achieve in the export area. 

“We are dependent on well-functioning international trade regulations through the WTO and access to the European market through the EEA agreement,” Eriksen Søreide noted.

Most exports go to the EU

The action plan is based on the government’s export strategy from 2017.

“As a result of the new situation for Norwegian business and industry, partly as a result of the corona crisis, there is a need for new measures,” Nybø said.

The goal is increased value creation in Norway so that Norwegian exports can contribute to building up Norwegian business after the corona crisis.

Total Norwegian exports amounted to NOK 1,311 billion in 2019. 

During the 2014–2019 period, exports in total increased by NOK 87 billion (7.1%).

Norwegian exports include sales of goods, services, crude oil, natural gas, and ships.

About 80% of Norwegian merchandise exports and half of its service exports go to the EU, 10% go to Asia, while close to 6% go to North and Central America. 

Just under 2% of exports go to Africa, while exports to South America are just under 1%.

© NTB Scanpix / #Norway Today


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