Norwegian Lisbon-success

Norway performs well according to the annual report comparing competitiveness in Norway and the EU. “The EU Lisbon Strategy – A Norwegian Perspective” compares Norway with the EU Member States on issues such as productivity, unemployment and R&D.;

19/02/2007 ::
The Norwegian economy is doing well. Norway enjoys full employment, and a very high level of welfare from an international perspective. At a time when globalisation is bringing stronger competition to Norwegian manufacturers, while at the same time bringing new market opportunities, the Norwegian economy finds itself in a unique situation. Norway currently reaps large revenues from the petroleum sector. This is a dear advantage, but it also poses a challenge to industries exposed to international competition.

A non-petroleum based business sector
The petroleum sector will remain important for Norway for many years. However, future petroleum revenues are uncertain. In order to maintain the high level of wealth creation in the future, Norway needs a non-petroleum based business sector which is exposed to international competition. Now is the time when Norway both can and should create the foundations underpinning such a future.

The EU – Norway’s most important trading partner
The EU is Norway’s most important trading partner. The participation in the European Economic Area (EEA) has made Norway an integral part of the internal market. It is important to note that Norwegian policies need to be premised on the Norwegian context. However, in many areas – of which research and development is but one example – Norway is facing the same challenges as the EU countries. Norway may have something to learn from the EU – and the EU may have something to learn from Norway.

Insight to Norwegian policies for growth and jobs
The attached report is the fifth one produced by the Ministry of Industry and Trade. The report can provide a useful insight to Norwegian policies in the fields identified by the Lisbon-strategy as important for growth and jobs.

The present report summarises the measures that the majority government are taking within a number of areas that are of decisive importance to Norwegian wealth creation in coming years. The report emphasises the ability to act, and the willingness to promote increased wealth creation in Norway.

Download the report here.

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The Troll A plattform operated by Statoil has an overal height of 472 meters and weighs 656,000 tons. It illustrates the great impact of the petroleum sector in the Norwegian economy.Photo: Øyvind Hagen / Statoil