Deputy Minister of Trade Park Jung-seong of the Ministry of Trade, Industry and Energy held a bilateral meeting with Deputy Minister Ragnhild Sjoner Syrstad of the Norwegian Ministry of Trade and Industry in Seoul to discuss ways to strengthen practical cooperation between Korea and Norway in response to recent changes in the trade environment.
Both countries recognized that strengthening cooperation between Korea and Norway is important for stabilizing supply chains and enhancing industrial competitiveness amid increasing uncertainties in the trade environment, such as the spread of global protectionism and the weakening of the WTO system. They agreed to continue discussions on building a practical partnership that can be linked to the achievements of both countries.
The two sides highly evaluated the resumption of the Korea-Norway Economic Cooperation Committee, a private economic consultative body that had been suspended since 2016, after 10 years. They agreed to expand government support and form a consensus on promoting more practical cooperation models and project-based MOUs based on corporate demand.
Deputy Minister Park Jung-seong assessed that trade between the two countries has quantitatively and qualitatively expanded since the FTA came into effect, based on complementary industrial structures. He emphasized that actual cooperation is progressing in the shipbuilding sector, focusing on autonomous navigation and AI-based future ship technologies. He also highlighted the potential for significant synergy effects when combining Korea’s strengths in manufacturing and ICT capabilities with Norway’s marine and energy technologies.