The Nordics Now
December 02, 2020
The Nordic region (Norden) consists of the sovereign states of Denmark, Norway, Sweden, Finland, Iceland and the autonomous regions of the Faroe Islands, Greenland and Aland.
Nordic countries share similar economic and social models, namely market economies, economic efficiency and all are notably welfare states.
Each country and autonomous state consistently heads key metrics on national performance, including economic competitiveness, education and human development.
Nordic countries are among the best macroeconomic performers in the last decade and collectively, the combined Nordic region is the 11th-largest economy in the world.
Foreign trade accounts for a significant proportion of economic activity in the region. The value of Nordic exports amounts to approximately two-thirds of Japan’s total exports.
2021 will mark the 50th anniversary of the Nordic Council of Ministers. The council’s vision is to create the most sustainable and integrated region in the world by 2030.
JAPAN AND THE NORDICS
The Nordic region is one of Japan’s key trading partners within the European Union (EU).
On Feb. 1, 2019, the EU-Japan Economic Partnership Agreement entered into force; eliminating more than 90% of Japanese duties on imported goods with a preferential origin from the EU.
Traditional key exports from the Nordic region to Japan include forestry products such as timber, pulp and paper, fish, seafood and other marine products, in addition to iron ore, oil and gas.
Nordic ties with Japan continue to develop. Through the exchange of consumer products and innovation-driven industries such as life sciences, pharmaceuticals, manufacturing, technology, agriculture, food and beverage and sustainability, Japan will remain closely connected to the Nordic region.
NORDIC INSIGHTS
“Japan and Denmark have an important strategic partnership and firmly support the multilateral free trade and investment system. The Japan-EU EPA enacted in 2019 can further enhance our opportunities.”
— Ambassador of Japan to the Kingdom of Denmark Manabu Miyagawa
“Finland and Japan’s warm and close diplomatic relationship spans over one hundred years. Finnish nature and design, as well as our down-to-earth lifestyle and well-functioning society are widely known among Japanese consumers.”
— Minister for Development Cooperation and Foreign Trade Ville Skinnari
“Around the world, Danish foods are synonymous with high quality, reliability and excellent hygiene, which match the Japanese market, which has some of the most demanding customers when it comes to quality.”
— CEO of Food Nation Denmark Lise Walbom
Sources:
https://www.norden.org/en/information/facts-about-nordic-countries
https://www.norden.org/en/information/10-facts-about-nordic-region-and-nordic-co-operation
https://norden.diva-portal.org/smash/get/diva2:1257993/FULLTEXT01.pdf
https://nordics.info/show/artikel/economic-development-in-the-nordic-countries/
Full Statements:
DENMARK
Japan and Denmark have an important strategic partnership and firmly support the multilateral free trade and investment system. The Japan-EU EPA enacted in 2019 can further enhance our opportunities. The Embassy of Japan will remain available to facilitate further promotion of our long-time friendship through trade and investment.
— Ambassador of Japan to the Kingdom of Denmark Manabu Miyagawa
Around the world, Danish foods are synonymous with high quality, reliability and excellent hygiene, which matches the Japanese market, that has some of the most demanding customers when it comes to quality.
The free trade agreement from 2019 between Japan and the EU provides great opportunities for Danish exports. Food is one of the areas where Denmark has a strong position in Japan, and at the same time an area where demand for high-quality, healthy and sustainable food is rising.
High quality is one of the basic values of the Danish food cluster, and we constantly strive to do better by setting the bar higher. When it comes to securing the quality of food in terms of control and certificates, the Danish food cluster is especially well known for being a frontrunner. Our key areas are veterinary safety, food safety and hygiene, sustainability and production optimisation.”
— CEO of Food Nation Denmark Lise Walbom
FINLAND
Something old, something new – Finnish-Japanese trade relations aim for new heights
Finland and Japan’s warm and close diplomatic relationship spans over one hundred years. Finnish nature and design, as well as our down-to-earth lifestyle and well-functioning society are widely known among Japanese consumers. Food and beverages are rising stars in consumer products; Finnish foodstuff exports to Japan grew by 24% in 2018 – 2019. Foodstuff industry will greatly benefit from the new EU-Japan Economic Partnership Agreement, which has already showed its power and highlighted the value of open and rules-based international trade.
The traditional core of Finnish exports to Japan consists of forestry products including paper and wood, machinery, and raw materials such as metals. These will surely find their Japanese market share also in the future, but it is time to reach for new heights in Finnish-Japanese trade relations. The global COVID-19 pandemic has caused unpreceded struggle worldwide, but it is also a chance for change. It is time to look for ways to reform our societies, while also striving for even better quality of life. Digital solutions, new health technology, green energy, and bio materials – all in which Finland has top-level expertise – have already sparked a notable interest in Japan. The possibilities for new areas of Finnish-Japanese collaboration are immense.
— Minister for Development Cooperation and Foreign Trade Ville Skinnari
Oulu: Hot business, Cool city! Oulu inspires new business – Digitalizing the World
Oulu located in Northern Finland is one of the few cities in the world where the ecosystem covers all the steps that are necessary in developing innovative wireless products – all the way from planning to production. When it comes to both hardware and software, we are the fastest in Europe to make it all happen. Our core competence is wireless technologies developed more than half century. Oulu has made excellent achievements in ICT industry such as the world’s first GSM base station and 5G. Currently, 6G Finland flagship program is ongoing in Oulu. Besides, Oulu is the leading town of health and life science sector closely developing with ICT technologies/5G.
Oulu region is known for the intensive collaboration between companies, public sector and universities.
With its developing ecosystem, Oulu and surrounding regions form a great urban living lab enabling development of products and services in real-life environment with end users.
Oulu with 250 000 inhabitants has many attractive micro (start-ups) to global companies like Nokia, Polar, and Oura. Thanks to robust wireless technologies, the excellent ecosystems and the family-like collaboration, companies in Oulu are ready for the world!
NORWAY
Japan and Norway have for several years had very good trade relations. Our two countries have cooperated within seafood export, the maritime industry, technology, and renewable energy. To secure cultural knowledge and create lasting relations, exchange programmes between Japanese and Norwegian universities has been established. Over the years, Norwegian companies have gained understanding of Japanese business culture. In addition, many companies use Japanese agents or have local staff to ensure smooth communication and trust.
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