General

The potential of the Chinese market is infinite, and the high-quality development of the Chinese market and economy provides broad space for the development of service trade between Norway and China. Recently, during the "Executive Discussion on Service Trade" series of interview activities at the 2023 Service Trade Fair, An Ruov, Commercial Counselor of the Norwegian Embassy in China and Head of the Norwegian Innovation Agency in China, stated in an interview that Norway's service industry has developed rapidly in the Chinese market, And it is closely related to the development of China's service trade. The cooperation between the two countries in tourism, energy, finance, and culture is constantly deepening, bringing more opportunities and potential for bilateral international trade and economic cooperation.

According to the data of the World Bank, service trade plays an important role in Economy of Norway's economy, accounting for 17.3% of gross domestic product (GDP) in 2020. Anjouf said that the Norwegian government has been committed to promoting the development of service trade and has taken various measures to support and promote innovation and international trade cooperation in related industries. Norway has unique advantages in the fields of tourism, energy, maritime, ICT, and culture, making positive contributions to its economic growth and international trade.

The scale of service trade between Norway and China has been expanding year by year. The trade between the two sides in various service fields such as tourism and energy shows a continuous growth trend.

In terms of tourism, Androv said that Norway's tourism industry is very popular in the Chinese market. More and more Chinese tourists choose to go to Norway to enjoy its beautiful Natural landscape, unique culture and historical sites. Norwegian tourism service providers are actively exploring the Chinese market and providing tailored services for Chinese tourists.

In the field of maritime technical services, Anjoff introduced that Det Norske Veritas, a Norwegian institution with the longest history in the Chinese market, provides a series of services such as ship certification, risk management and hospital certification, and has made contributions to the common development of Chinese and Norwegian enterprises. Norwegian technology consulting companies also provide valuable professional knowledge for Chinese domestic enterprises seeking to enter the international trade market.

Androv said that Chinese investors have shown interest in Norway's service industry and have participated in Norway's service projects through direct investment or partnership, which further promotes the development and cooperation of service trade between China and Norway.

With the policy support of the Norwegian government and the popularization of charging infrastructure, Norwegian people's awareness of electric vehicles is constantly increasing. Anjouf said that as of now, the proportion of new electric vehicles sold in Norway has exceeded 80%. Norway is currently the country with the highest penetration rate of electric vehicles in the world and has also been favored by Chinese electric vehicle companies. Some well-known Chinese electric vehicle companies have entered the Norwegian market through joint ventures or wholly-owned subsidiaries, providing electric vehicles and related services, and contributing to the global green transformation. Data shows that from January to July 2022, the registration volume of Chinese brand electric vehicles in Norway reached 5726, a year-on-year increase of 204%.

Androv believes that there is also great potential for cooperation between Norway and China in the field of the digital economy. He said that Norway is at the forefront of the digital economy and innovative technology. Norwegian technology companies and innovative enterprises provide various digital solutions and technical services, including artificial intelligence, digital sensors, semiconductor products, Big data analysis, the Internet of Things and smart cities. Norway's digital economy industry is highly compatible with China's Digital transformation needs, providing a lot of opportunities for cooperation. Norway is also one of the famous data center destinations in the Nordic region. For example, TikTok's data center in the Nordic region is located in Norway, showcasing the potential of more Norwegian companies to collaborate with Chinese companies in areas such as sustainable development, environmental protection, and optimized resource utilization through digital solutions.

Talking about how Norwegian companies can quickly open up the Chinese market, The market potential of China is infinite, and for enterprises, it is important to find the appropriate platform to open up the market. Through the platform, consumers can understand you and establish trust with you. The Service Trade Fair provides such a platform, providing a place for enterprises to showcase their products and services, and providing valuable business opportunities and experience accumulation for Norwegian enterprises. Enterprises have reported that by participating in exhibitions, they can increase contact and expand with Chinese customers Exhibition the market, understand industry trends, and communicate and cooperate with other participating enterprises. This participation helps to promote service trade cooperation between Norway and China, and promotes the development of international trade and economy between the two countries Anrufu said.

Anjouf also revealed that as one of the participating countries in the Service Trade Fair, Norway will focus on areas such as e-commerce, digital economy, and intelligent solutions this year. (Translated from: China Trade News)