Scotland's Economy

Scotland-Norway: An important trading relationship

March 19, 2019 by No Comments | Category Business, Exports, Investment

Despite the uncertainty over Brexit, Scotland remains open for business and this is something we want the world to know.

One country which continues to be of significant importance is Norway so I am in Oslo this week to help build on our strong relationship and continue to develop our economic, political and cultural connections.

As well as meeting a number of key businesses and other stakeholders, I will be taking time to speak with the UK’s Ambassador to Norway, Richard Wood. I will also be talking directly to Norwegian investors in Scotland and to Scottish exporters opening up new market opportunities in Norway. I want this visit to highlight that Scotland continues to be a fantastic trading nation and I hope to boost investor and exporter confidence during what is undoubtedly a challenging time.

It goes without saying that there are substantial opportunities to grow international trade and investment between Scotland and Norway across a range of sectors and industries.

Scottish exports (goods and services) to Norway were estimated to be worth £1 billion in 2017 – with Norway ranked as Scotland’s 6th largest partner for exports in 2017. There are also around 110 Norwegian owned enterprises in Scotland with a turnover of £2.23bn and employing almost 6,000 people. The energy and fishing industries are of particular importance to both countries too.

No matter what lies ahead, trade across the world is crucial to Scotland’s continued growth. I look forward to discussing the many ways in which Norway and Scotland can work together over the coming months and years to help one another grow.


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