Norwegian market

Guide to doing business in Norway

We are happy to introduce you to Norway, a country probably most known for the beautiful nature, tasteful fish and oil and gas. Norway also has a well functional economy and political stability, and position itself among the top countries in most international rankings, including in areas such as transparency, quality of life, GDP and economics.

Norway is a large exporter of seafood products to Ukraine, but there is a vast potential of increased trade and investments both ways in several sectors. Among the most promising are seafood, ICT/IT, energy, shipbuilding, agriculture, tourism, R&D and retail. While doing business in Norway, one should not be concerned with unstable economy, political risks, frequently changing legislation, protection of private property and corruption. Instead, a businessman should focus on innovations and quality to be competitive. Support for those who want to establish their own business can be expected from various public institutions, above all the Norwegian government. However, as Norwegians say – “things take time in Norway”. Thus, we recommend to be prepared to be patient while establishing and conducting business in Norway and to follow all rules and standards – big punishment follows if one tries to cheat. There are no opportunities to bribe people to solve problems. And it is always smart to rely on local support – to have a local partner (as for example NUCC). Generally, Scandinavian partners are maybe the best in Europe.

The Norwegian-Ukrainian Chamber of Commerce (NUCC) was established in 2008 to stimulate increased commercial cooperation between Norway and Ukraine. We work for the interests of our members, and have no other commercial incentives. NUCC has a competent board as well as partners, and we have key contacts in each sector. NUCC will assist our members if they need help and guidance. We are a safety network if you encounter problems. We have good contacts among authorities in Norway and Ukraine, and we work closely with both the Ukrainian Embassy in Oslo and the Norwegian Embassy in Kiev.

NUCC encourages commercial relations between Norway and Ukraine, in order to promote our member’s business interests in the two countries. In commercial relations, we mean trade (export/import), investment and cooperation within R&D and education. We also run a project, funded by the Norwegian MFA, to increase awareness of the importance of transparency, business ethics and Good Corporate Governance among young managers and students; www.nucc.no/ye. This gives Norwegian and Ukrainian companies a pool of potential employees to choose from, who have knowledge about the business culture in each respective country.

We are also ready to assist your company in finding a trustworthy partner in Norway through our Matchmaking Program; www.nucc.no/mmp. We hope you find this guide helpful, and wish your company great success when doing business with Norway.

Best regards,
Laxmi Akkaraju, Chairman NUCC

Reports and Articles

Growth is expected to pick up in 2017, after two years of weak performance. The Norwegian economy has suffered from falling oil prices from 2014 to last winter. Gross Domestic Product (GDP) is expected to grow with 1.7 per cent in 2017 according to National Budget estimates, up from estimated 1.0 percent in 2016.

Norwegian market events