Cooperation on EFTA free trade agreements was a major theme in the meeting with the Swiss president. The norwegian authorities expressed that Norway has chosen to establish trade agreements through the EFTA cooperation. Good relations with Switzerland in EFTA-frame is therefore important for further development and deepening of the EFTA increasingly comprehensive free trade regime.
– Government gives priority to the signing of trade agreements within the framework of cooperation in the EFTA. The good cooperation between Norway and Switzerland, is essential in this effort, "said Giske.
The Norwegian minister also told that the bilateral economic relations with Switzerland are excellent, but the trade remains modest. In 2009 trade amounted to NOK 8.5 billion. Exports amounted to NOK 3.7 billion and imports NOK 4.7 billion.
Financial Relations Between Switzerland and Norway
Almost 40 percent of Norwegian exports to Switzerland consist of oil and gas. In addition, exported gems, aluminum, miscellaneous chemical products and fish and seafood. Norway imports mainly machinery, pharmaceutical products, electrical machinery and optical / medical instruments from Switzerland. When it comes to foreign investments from Norway to Switzerland, the total value in 2008 was 9.2 billion. On the other hand, Swiss investments in Norway reached to 24.8 billion kroner in 2008.
– The economic relations with Switzerland are excellent, but the potential for further development of economic relations and growth in trade is larger than the current level implies, "says Giske
Facts:
• Trade with Switzerland: NOK 8.5 billion in 2009.
• Exports in 2009: NOK 3.7 billion (0.5% of total exports). Almost 40% of Norwegian exports to Switzerland consists of oil and gas. In addition, exported gems, aluminum, miscellaneous chemical products and fish and seafood.
• Imports in 2009: NOK 4.7 billion (1.1% of total imports). Norway imports mainly machinery, pharmaceutical products, electrical machinery and optical / medical instruments.
• Norwegian foreign investments in Switzerland in 2008: 9.2 billion (1 per cent of the total Norwegian foreign investment).
• Swiss foreign investments in Norway in 2008: 24.8 billion (3.2 percent of total foreign investment in Norway).
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