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Minister Faurie: "There are major opportunities for economic complementarity with Norway"

07 March 2018
Información para la Prensa N°: 

The Foreign Minister participated in a Business Forum alongside the King and Queen of Norway

This morning, Foreign Minister Jorge Faurie and the King and Queen of Norway opened an important Argentina-Norway Business Forum at the Palacio San Martín, which was attended by high-ranking officials and a large number of representatives from investment companies, in order to boost economic cooperation and bilateral trade relations in the public and private sectors.

"Although our countries are geographically distant, there are major opportunities for economic complementarity. We believe that the Norwegian business community and authorities have reacted positively to the trade and investment opportunities we offer. This poses a challenge we must address," Foreign Minister Faurie stated in his address before the Norwegian King and Queen, who have been on a four-day State Visit to Argentina since last Sunday.

The Forum, titled "Argentina-Norway: A new partnership for the creation of added value", was attended by dozens of Norwegian and Argentine businesspersons and focused on the opportunities offered by the energy, maritime, technological innovation, services and mining sectors, among others.

Minister Faurie highlighted the recent progress made as regards investments by Norwegian companies, such as the case of Norwegian Air, which recently operated its first London-Buenos Aires flight; the agreement between YPF and the Norwegian oil company Statoil, and the installation of a plant by Norsk Hydro, a company in the aluminium and renewable energies sector. He also underscored the presence of a score of Norwegian companies in various sectors which "create quality jobs in Argentina and benefit from this new favourable business environment."

"Argentines want not only to diversify our markets and products, but also to increase the added value of our exports," the Argentine Foreign Minister stated.

In addition, Queen Sonja of Norway noted that "this partnership is an ambitious goal towards improving public welfare in our countries," highlighting that "technologies are changing the way we work and live, and we must take advantage of these opportunities."

"New technologies help modernize the public sector and boost innovation and economic growth, which in turn helps us improve our social welfare systems in order to provide our people with the services they need," the Queen stated, underscoring the level of cooperation both nations could reach in this field.

The Norwegian Minister of Trade, Torbjørn Røe Isaksen, noted that "there are major opportunities for increased cooperation and trade" and that "so far, we have only seen a small fraction of what Argentina can offer."

"Argentina has sent a clear message as regards its intention to further open up to business and we are prepared for it. As a result of the reform process initiated by President Macri, I believe there is great potential for Norwegian investment in Argentina, which I hope can come to fruition soon," the Norwegian economic official reaffirmed.  

Furthermore, the Argentine Foreign Minister also mentioned the progress made in negotiations towards a Mercosur-EFTA agreement, which are headed by Norway and Argentina. According to Minister Faurie, both blocs want "a tariff system which is convenient to both sides and which allows for the inclusion of as many products as possible from both countries."

"It takes two to tango," Queen Sonja noted, addressing the bilateral economic relationship. "Perhaps the same principle should apply to business," she concluded.  


Press release No. 077/18

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