According to China's customs statistics, trade between the two nations reached $3.82 billion in 2007, increasing 29.3 percent over the year previous. Exports from China to Norway amounted to $2.2 billion and imports from Norway to China hit $1.61 billion, growing by 29.4 percent and 29.1 percent respectively.
China's exports to Norway include textiles, garments, ships, and mechanical and electrical products, while main imports from Norway are crude oil, seafood, fertilizers, aluminum, steel and machinery.
Norwegian investment in China is also on the rise. Statistics from the Chinese Ministry of Commerce show that by September 2007 the number of Norwegian-funded projects reached 276 with a combined actual investment of $285 million.
To further facilitate business links between the two countries, Norway and China have recently held negotiations on a free trade agreement.
Cultural exchanges
Saether noted Norway and China signed a cultural cooperation agreement in 1963, the first of its kind between China and Western countries.
Programs for cultural and educational exchanges have expanded since the 1980s.
Milestones in Sino-Norwegian cultural exchanges include Ibsen Year held in China in 2006 and a Chinese Cultural Festival held in Norway in 2007. Along with a number of other cultural activities, they further enhanced the mutual understanding of the two peoples.
