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Daniel FLORET
Head of International Desk United Kingdom, Nordic countries

Support by the
Crédit Agricole group

Last updated: August 2021

Crédit Agricole Group's International Desk provides support to the Group's corporate clients in Norway for their on-site operations, including account openings, financing, information and banking advice. It relies on the Group's entities and leading local partner banks. For NBFCs, the International Desk offers the support of local law, accounting firms and its leading partners for company internationalisation.

Crédit Agricole CIB has had presence in Norway since 1984. The representative office based in Oslo is dedicated to Shipping and Offshore customers. A coverage team also monitors major Norwegian companies from Oslo.

For more information, see the list of the Crédit Agricole Group’s locations.

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Means of payment

With Norway

Company cheque

Bank cheque

SWIFT transfer

Bill of exchange

Promissory note

Documentary remittance

Documentary credit

Usage

Weak / None

Weak / None

Common

Weak / None

Weak / None

Weak / None

Common

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Advice from the
international desk

General Information

Norway is highly oriented towards the oil and gas markets and offers interesting prospects both for its local consumption (Norwegians have one of highest purchasing powers in the world) and for its highly skilled workforce and very favourable environment for business (ranked No.  7 worldwide by the World Bank's "Ease of doing business" index).

Trade between France and Norway is largely unbalanced in favour of the latter, mainly due to hydrocarbon imports. Overall, fluctuations in the energy sector are very significant in the development of Norway's GDP.

Like the other Nordic countries, Norway is very attached to the notion of egalitarianism (Law of Jante). In negotiations, humility and modesty must prevail. A speech that is too emotional or that aims to put you in the spotlight will only make your Norwegian partner suspicious. So be direct in your approach and as factual as possible. Your punctuality in appointments will be greatly appreciated.

 

Means of Payment & Banking Specificities

The SWIFT transfer is the most common method for international payments and online transfers for domestic payments. Card payments are common for face-to-face payments and payments via mobile phone applications are booming, as is the case in other Scandinavian countries. The cheque has become almost obsolete, as have cash payments. Intercompany payment terms generally do not exceed 30 days. Watch the currency parity with the Norwegian krone as the latter is very dependent on the world economy, oil and gas prices and interest rates evolution.

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