Economic Commission discusses challenges and opportunities

Norwegian Brazilian Economic Commission meeting

Norwegian Brazilian Economic Commission meeting

The Norwegian Brazilian Economic Commission gathered the two countries for the first time after many years in order to discuss business cooperation.

It is important to have a direct connection between business and politics. This Economic Commission is based on an agreement on trade and economic, industrial and technical collaboration that dates back from 1978. However, it has not been conducted meetings since the beginning of the 1980’s. In light of the increasing trade with Brazil, Norway encouraged resuming the work of the commission.

Multisectoral cooperation

The meeting was led by Brazilian Vice Minister for Development, Industry and Commerce, Pedro Wendler, and Norwegian Deputy Minister for Trade, Industry and Fisheries, Dilek Ayhan. Moreover, the Norwegian Ministries of Defence, Petroleum and Energy, and Foreign Affairs were also present, in addition to Innovation Norway and the Norwegian Centre for Design and Architecture.

Brazil is an important market for Norwegian business. I am very pleased to resume these yearly meetings with Brazil. This Commission is a good meeting place to discuss possibilities and challenges in the business cooperation between Norway and Brazil, said Deputy Minister Ayhan.

This commercial cooperation between the two countries is wide-ranging. At the meeting, it was discussed cooperation within maritime, oil and gas, seafood, renewable energy and defense technology. Negotiations for a shipping agreement between Norway and Brazil were discussed, as well as opportunities for developing trade cooperation between EFTA and MERCOSUR.

Ahead of the meeting was conducted in the input face of Norwegian industry organized by NHO and Norwegian-Brazilian Chamber of Commerce. The suggestions were discussed at the Commission meeting.

Some key figures

• Goods exported from Norway to Brazil – NOK 5 billion

• Goods exported from Brazil to Norway – NOK 7.7 billion

• Service exported from Norway to Brazil – NOK 8 billion

• Service exported from Brazil to Norway – NOK 2.3 billion

• Around 150 Norwegian companies are presence in Brazil, most of those in the offshore and maritime business. Nearly one in four offshore vessels in Brazil is controlled by Norwegian shipping companies.

• Examples of companies in Brazil: Statoil, Aker Solutions, Sevan Marine, Norskan/DOF, Farstad, and Siem Offshore. In addition, Norwegian companies are also represented in sectors such as aluminum (Norsk Hydro), bioethanol (Umoe Bioenergy), fertilizer (Yara), hydropower (SN Power) and financial services (DNB).

Innovation Norway is responsible for promoting the Norwegian industry abroad. Our office in Rio de Janeiro manages Innovation House Rio, our business incubator office, and helps Norwegian companies in their efforts towards the Brazilian market.

Posted in Brazil, Norway

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