2010 Booklet.pdf - Norway - the official site in India

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A LOOK AT NORWAY’S STRENGTHS Norway is a constitutional monarchy and a country with a strong democratic tradition. With a population of only 4.7 million it ranks among the most prosperous and modern countries in the world with a high degree of social welfare for its inhabitants. Because of its richness of natural resources like oil and gas, the economic growth is substantial. GDP in 2009 was 380 billion US $. It is located in the western half of the Scandinavian peninsula, borders on Russia, Finland and Sweden and has a long coastline (2,650 kilometres). Norway is close both to European markets and to the North Sea oil installations. Although Norway is one of the largest countries in Europe in area, its population only numbers some 4.7 million. The country’s long narrow shape and sparse population make good communication very important, and the `authorities have channelled considerable resources to that sector. Inland transport is provided by road and rail systems and ferries, and about 50 operational airports. For international traffic there are frequent rail and air connections to other countries, as well as ferry services for instances to the United Kingdom, Germany and Denmark. Intercontinental flights from the main airports are either direct or via Copenhagen, Scandinavia’s main hub. The Oil and Gas Industry The production of oil and natural gas by the petroleum industry has been a major source of Norway’s economic growth in recent years. It has also made important contribution to general development. Being so close to the North Sea, Norwegian companies have been able to effect major deliveries to new fields, and this has stimulated the development of a highly competent body of engineers. Norway is the third largest exporter of oil in the world. Water Power Plentiful water power has for several decades made Norway a leading exporter, both of electricity and of the products of energy intensive manufacturing industries. More than 99% of the electricity is derived from hydro. In 1995, Norway, Sweden and Denmark agreed to trade power freely. The world’s first power exchange has been established in Oslo. Norway is also at the leading edge of technological development 8
where equipment for this industry is concerned, including the construction of power plants. As a result, Norwegian companies are heavily involved in the building of power plant all over the world. Fisheries Up and down Norway’s long coasts, fishing has always been of great importance. At present, however, fish farming appears to hold out greater potential for growth than traditional fisheries. The main, products for today’s fish farms are salmon and trout. Extensive trials are being carried out on other species of fish and on shellfish. Forestry Forestry is another of Norway’s historically important industries. The rich timber resources are to a large extent utilized in the paper industry. Wood is also the principal house-building material and the basis of a considerable furniture industry. Shipping Shipping has long traditions in Norway. A large proportion of today’s Norwegian tonnage trades between foreign ports. Some years ago, Norwegian taxation rules, crew requirements, etc. prompted owners to establish themselves outside Norway, but the authorities have in recent years sought to encourage owners to operate from Norway, among other things by changing the tax rules with effect from 1996. Tourism Following many years of steady growth, the tourist trade in Norway reached an all time high during the winter Olympics in Lillehammer in 1994. Norway’s main tourist attraction lies in her characteristically rugged landscape. Free movement of Persons In this area, the EEA agreement applies to the EU rules in full. This implies rights to employment, mutual recognition to qualifications, and transfers of social security entitlements. It also means that there are no restrictions on the right to establish and conduct business enterprises. Free movement of services EEA countries impose no restrictions on the provisions of services in each other’s territory. Since services form an essential part of Norway’s total export volume, free access to the European market in services is very important. 9
Page 2 and 3: Norwegian Business in India www.inn
Page 4 and 5: • Odfjell ASA ( India Liasion Off
Page 7 and 8: INDO-NORWEGIAN BUSINESS MATCHMAKING
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Page 27 and 28: BUSINESS CULTURE IN INDIA OVERVIEW
Page 29 and 30: HISTORY The people of India have ha
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REPRESENTATIONS AND TECHNICAL COLLA
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