Norway and Canada Reinforce Economic Partnership with Renewed Trade Deal

Last Sunday, Norwegian Prime Minister Jonas Gahr Støre met with Canadian Prime Minister Mark Carney together with the prime ministers of the other Nordic countries, Sweden, Denmark, Finland, and Iceland. In a statement, Støre emphasized that the six countries share many core values, including fundamental values related to international law, international cooperation, and a shared commitment to security in an increasingly turbulent geopolitical environment.

In the same statement, Støre further emphasized that the countries are also working together to ensure stability and create opportunities for economic growth. Economic security and job creation are high priorities for all six countries.

Norway and Canada have also renewed their trade agreement. The updated agreement could provide Norwegian companies with favorable conditions in public procurement processes and for the export of services. The agreement was concluded during a meeting between Norway’s Minister of Trade and Industry, Cecilie Myrseth, and the Canadian Minister of Trade.

As stated on the Norwegian government’s website “The trade agreement between the EFTA states and Canada entered into force on 1 July 2008 and has since provided zero tariffs on exports of industrial goods between the countries.” Myrseth has emphasized that the agreement has been highly important for Norway, but that it needed to be updated to reflect the current commercial relationship between Canada and Norway.