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Government outline plans for future British-Norwegian economic partnership
Government outline plans for future British-Norwegian economic partnership

Government outline plans for future British-Norwegian economic partnership

The government’s Ambassador to Norway, Richard Wood, has delivered a speech to the Norwegian British Chamber of Commerce that outlines the future economic partnership between Britain and Norway.

The British-Norwegian relationship has been described as ‘dynamic’ and ‘enthusiastic’ in its effort to forge new partnerships.

According to Office for National Statistics (ONS) figures combined trade between the UK and Norway increased by 28% last year, making Norway the UK’s 12th largest trading partner, while the UK is Norway’s largest.

In his speech to the British Chamber of Commerce, Mr Wood focused on how the government is creating a business environment “where companies can thrive.”

Of course, the future economic partnership between the countries was also a topic of conversation in the context of how it may change as a result of Brexit.

Mr Wood described Brexit as a “top priority” for the government, and said plans are being put in place to ensure businesses enjoy a smooth transition.

He said: “We are investing the resources required to deliver a smooth transition for business. As we work intensively on this short term challenge, we are also preparing for the longer term opportunities related to the Prime Minister’s second priority: building a strong UK economy that remains open for international business and fit for the future.”

And the government believes its Industrial Strategy will ensure the long term gains for businesses and stakeholders, strengthening the economic partnership between the UK and the likes of Norway because of the greater business opportunities it will deliver.

The Strategy will help to make upgrades to infrastructure, transport and digital works necessary for businesses.

The exit deal that the UK is working on to exit the EU is something that the government want to apply for all countries in the European Economic Area, including Norway.

But, Mr Wood said, it is these “solid fundamentals” that will ensure fruitful business agreements between the two countries in the future.

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