Agreement with China as an opportunity for Norwegian exports! China has been a trading tycoon for many years. According to the new calculations of the Ministry of Trade and Industry, if a free trade agreement was signed with China, it would increase Norwegian exports by up to 160 billion crowns! Trade and Industry Minister Iselin Nybø (V) emphasizes that cooperation may start within a few months. The coronavirus pandemic has meant that the negotiations are so far only conducted electronically. However, there is a good chance for a permanent relationship. How would such cooperation look like?
Agreement with China - negotiations in progress ...
Norway is in talks with China. It is worth noting that this is not the only country the Norwegians want to cooperate with. Open negotiations are also taking place with Ecuador, India, Malaysia, Thailand and Vietnam. It cannot be denied, however, that China can generate the greatest profits for the country of the fjords.
Export cooperation with China - disputes!
Perhaps the meetings and negotiations could have already been completed successfully if it were not for a few controversial issues. The greatest ambiguities and differences in view are caused by:
- sensitive goods,
* “Sensitive goods are a special group of materials, products or raw materials that are subject to additional restrictions and fees by law (e.g. excise duty). Additionally, they are strictly controlled during transport. These restrictions are introduced due to the high possibility of fraud when trading these goods - which results from their specificity. (https://www.nettavisen.no/).
- trade in services,
- investment regulations,
- issues of human rights / labor rights.
To sum up. The deal with China is tempting for Norway. Will it come to her? Unfortunately, respect for free trade is also declining. One thing is for sure. The economic crisis is a fact. Only solid cooperation between states can bring real fruit.
“Unfortunately, today's political climate is in which international trading systems are under pressure and more and more people are questioning the value of free trade. We can clearly see that the state sector is growing.” – Minister of Trade and Industry Iselin Nybø (V) for Nettavisen.
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