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 (the country was ranked #9 in the world by the World Bank's "Ease of doing business" index in 2020).

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 oscillate around 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.