Minister of Trade and Industry, Mr Dag Terje Andersen
India – Norway Business Cooperation
Speech given in New Dehli on the 2nd of November
2006
Your
Royal Highnesses,
Excellencies,
Distinguished
guests, Ladies and Gentlemen,
It is a
pleasure for me to be present at this plenary today. This event marks a
significant initiative on the path to developing closer relations between our
two countries. I would like to congratulate the group of organizers on this
event, which I believe is the first of its kind.
India has during the past decade experienced
an annual growth of about 8 percent. On a global scale this is truly
impressive. Experts think that India is set to become the world’s fastest
growing economy in a few years. For Norwegian companies, India is increasingly
becoming a land of opportunity. This is reflected by the high number of
Norwegian business representatives present here today.
Historically, trade relations between
Norway and India have been modest. However, the tendency is changing. In the
course of the past six years bilateral trade has increased by more than 100 per
cent. The main drivers are machine and
ship exports from Norway and the export of textiles from India.
During an Indo-Norwegian maritime seminar
arranged in Mumbai on Tuesday on the occasion of the official visit, I was
happy to note the enthusiasm and positive outlook shared by the Norwegian and
Indian participants. And they have all reasons to be optimistic. Today more
than 30 ships are in the pipeline or being built here in India on orders from
Norwegian shipowners. And several Norwegian maritime companies have established
offices in India. At the same time, Indian companies, such as Great Offshore,
are buying Norwegian vessels.
I believe, however, that the potential for
increased cooperation, both within the maritime and other sectors, is great!
The Norwegian government is eager to see a
further strengthening of the bilateral relations with India. We are
specifically encouraging an EFTA Free Trade Agreement with India as well as a
bilateral maritime agreement. These agreements would increase market access and
trade flows between India and Norway. Providing a strengthened framework in the
bilateral trade relationship between our two countries. I hope to see progress
on both of these agreements in the months ahead.
Currently about
35 Norwegian companies from a variety of sectors are present in India. One of
them, Aker Kvaerner Powergas, has been operating in India for the past 40 years
and is today a leading engineering and construction company in the country.
Amongst the
participants here today is also the small Norwegian company EB Elektro. In many
ways I believe the story of EB Elektro portrays the opportunity inherent in
increased cooperation between our two countries. Two years ago the high
production costs in Norway made it difficult for them to compete on the
European and international market. As a result of these difficulties EB Elektro
established a production cooperation in India. Today the company is attracting
large contracts it otherwise would not have had a chance to get. No jobs were
lost in the process. Actually, they have hired two additional employees raising
the total number of employees to 13. All this was rendered possible by the
cooperation with their Indian partner.
The story of EB Elektro, and others like
it, truly illustrates the importance of
- innovative
thinking
- adapting
to a changing international arena and
- establishing
contacts across national borders
In order to succeed in the global economy,
companies have to look for common solutions to common problems and challenges. The
seminars today will focus on the potential for increased cooperation within the
energy sector, the marine sector, trade and services, culture and tourism. I
feel certain that these seminars will result in many new and mutually rewarding
long-term business relationships.
To conclude I would like to wish you all a
very productive and inspiring seminar.
Thank you for your attention and good
luck.
