The Government has been given support by Parliament (Storting) to continue the cooperation with the so-called G10 nations in the further negotiations in the World Trade Organisation (WTO).This will mean reduced import duty on farm produce.. The Government has been given support by Parliament (Storting) to continue the cooperation with the so-called G10 nations in the further negotiations in the World Trade Organisation (WTO).
This will probably mean that Norway will accept reduced import duties as well as increased import quotas for important Norwegian foodstuffs like cheese, butter and meat.
The G10 nations, which are all importers of food, have high customs barriers in order to protect their own food production, but according to sources, these nations will on Monday propose a 50 per cent cut in these customs barriers.
- The Storting has given the Government support for its view that it would be impossible for Norway to go it alone in the upcoming WTO negotiations, and that it will be absolutely necessary to stand together with among others Switzerland, Japan and South Korea, says Agriculture Minister Lars Sponheim.
Secretary General of the Norwegian Farmers' Union, Harald Milli, says cuts in the import tax will have dramatic consequences for Norwegian farmers.
In his opinion, the Norwegian government must fight against the WTO-proposals
(NRK)
Rolleiv Solholm
The Executive Board of the Norwegian Central Bank (Norges Bank) has decided to keep the key policy rate unchanged at 1.5 percent. (Photo Norges Bank Deputy Governor Jan Qvigstad)
..
In his annual speech, outlining economic perspectives, the Governor of the Norwegian Central Bank, Øystein Olsen called for a more resilient banking sector in Norway.
..
The Government has released a white paper discussing challenges and policy options facing the Norwegian economy towards 2060, stating it is likely to be faced with difficult choices in the decades to come.
..
Developments of the Norwegian economy stand in stark contrast to the developments of many of the trading partners. Growth in the Norwegian economy is expected to continue ahead, albeit at a somewhat slower pace, says Finance Minister Sigbjørn Johnsen.
..
The Norwegian Government Pension Fund (Oil Fund) has grown to become the largest sovereign wealth fund during the last year, according to a Institutional Investor 2012 ranking.
..
The trade surplus for the first six months of 2012 amounted to NOK 242.5 billion. This was an increase of almost 25 per cent compared to the first half of 2011.
..
The Bank of Norway predicts that salaries will continue to increase, along with a low interest rate.
..
Investors from all over Europe hedge against a possible Euro-collapse by placing money in Norwegian banks.
..
The nationwide strike by 25,000 employees in the public sector will be epanded after the Pentecost weekend, the unions have announced.
..
Presenting the revised National Budget for 2012, Finance Minister Sigbjørn Johnsen said Economic activity in Norway has held up well in 2012, despite the global economic slowdown.
..
The Norwegian Central Bank (Norges Bank)’s Executive Board has decided to keep the key policy rate unchanged at 2.25 per cent.
..
The baby boomers are getting ready to retire, which means that the annual expenditures for pensions in the Norwegian state budget are in for a dramatic increase.
..
Finance Minister Sigbjørn Johnsen (photo) on Thursday presented the National Budget for next year. Some highlights: Record budget for development aid, with focus on renewable energy and agriculture. (More updates)
..
