Zubkov: Cooperation with Norway will help to modernize Russian economy

- We have had very constructive talks concerning the Russian-Norwegian economical cooperation, Russian First Deputy Prime Minister Viktor Zubkov said after a meeting in the Intergovernmental Russian-Norwegian Commission on economical, industrial and scientific cooperation in Moscow yesterday, information agency FK Novosti writes.

The participants in the meeting, which was led by Mr. Zubkov from the Russian side and Minister of Trade and Industry Trond Giske from the Norwegian side, discussed joint projects within energy, transport, information technologies and telecommunications.

Great opportunities
- Norway and Russia have great opportunities for a closer economical cooperation, said Minister Trond Giske in an interview with ITAR-TASS. – We already have positive experience from the energy sector, especially oil and gas. This sector could be expanded even further to enhance energy efficiency, science and research, ecology and alternative energy sources, he said.

Mr. Giske paid special attention to the positive development in the interaction between Norway and Russia in the northern areas, and said that both sides are working on making border crossing easier.

One-sided trade downturn
According to Russian Custom Services, the trade between Norway and Russia fell with 21 percent in 2009, to 1,87 billion USD, newspaper Izvestia writes. Norwegian export to Norway stayed at the same level as in 2008, but Russian export to Norway fell with 36.4 percent.

Norway’s share of Russia’s foreign trade is 0,4 percent. Russian export to Norway consists of raw materials (88 percent), metals and metal products, chemicals, cars, timber and paper.

Norway exports fish and sea foods to Russia (70,9 percent), and also cars, metals and chemicals.

120 companies with Norwegian capital are registered in Russia, according to Izvestia. Norwegian investments in Russia amount to some 1,9 billion USD. Most of the investments are made in Murmansk, Arkhangelsk and Leningrad regions.

Joint projects within shipbuilding
Shipbuilding is one of the fields that Norway and Russia are planning to enhance cooperation, and a special working group within the commission has been established for this purpose. The group is now considering plans for joint projecting of two freezer trawlers, RIA Novosti reports, citing a source in the commission.

The two countries are also discussing joint projecting and building of modern fishing vessels and other vessels capable of working in the High North.

The working group for shipbuilding will have their next meeting in Norway on April 22.

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