U.S. COMMERCIAL SERVICE YOUR GATEWAY TO THE NORDICS
THE COMMERCIAL COMPASS The Nordic countries Denmark, Sweden, Norway, and Finland, have much in common – their way of life, their history, language and social structure. As world traders for over a thousand years, a Nordic business philosophy has become deeply rooted in the region. Close historical ties also extend to the United States, ever since the Viking Leif Ericson became the ﬁrst European to reach the American continent ﬁve hundred years before Christopher Columbus. Whereas Nordic trading agreements once were a way to secure stability and harmony in the region, the beneﬁts have since evolved to ensure prosperity and economic growth throughout the region, from which U.S. businesses have many opportunities to beneﬁt. More than 350 U.S. companies call Denmark home, and today the entire Nordic region of 25 million people has grown into a $15 billion market for U.S. trade. No trading nation or region can be successful without a deep, abiding understanding and respect for its neighbors and partners. Over the past 60 years, the friendship and amity between the United
States and the Nordic countries have enabled our nations to reach new, higher levels of commercial cooperation. It is little surprise that the Nordic countries boast having some of the most prestigious U.S. names in business as its corporate citizens. Despite many parallels, each Nordic country has its unique features. This is one of the reasons why there is a Commercial Service presence in all four nations. With local expertise, extensive networks, and a unique regional organization, it is the job of the Commercial Service to guide American companies through the differences and to capitalize on the similarities. We look forward to helping you on your journey in the Nordic region. After all, have you ever had a compass that did not always point to the North? Now is your time to follow it.
Sincerely, Laurie S. Fulton Ambassador of the United States of America to the Kingdom of Denmark
YOUR GATEWAY TO THE NORDICS
U.S. Commercial Service offers simple, affordable multi-stop programs that ﬁt your company products and market proﬁles and will help you gain market access to the region.
Exporter questions: • Welcome to the U.S. Commercial Service in the Nordic Region. We are here to serve you with any help needed to access the Nordic market. In this folder you will ﬁnd useful information and testimonials from previous clients.
4 countries – 1 market The Nordic Region – Denmark, Sweden, Norway, Finland – is a sophisticated marketplace, the 8th largest economy in the world, and considered worldwide to be an excellent test market for new products and easy-to-enter market for new-to-export (NTE) companies. English is widely spoken, business agreements are reliable, and the infrastructure is ﬁrst rate. The Nordic countries have close ties to the United States culturally, politically, and historically and there are excellent opportunities for U.S. businesses in the entire region. For these reasons, the Nordic ofﬁces of the U.S. Commercial Service now offer regional services to U.S. companies that want a combined program to develop markets in the Nordic Region.
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Is there a market for my product in all of the Nordic countries? Enter all countries at once or one at a time? National or regional distributor? Will the same marketing strategy work in every Nordic country?
These are some of the essential questions that U.S. exporters must ask themselves when thinking about entering the Nordic region. Despite the many similarities of the Nordic countries, there is rarely a “one size ﬁts all” entry model, but the U.S. Commercial Service is there to answer those questions for you. U.S. Commercial Service is your gateway to the region and is there to make your Nordic venture a successful one!
U.S. exports to the Nordic region divided by country $0.9 billion
A $15 billion market $3.3 billion Denmark
$4.9 billion $1.9 billion
Source: World Bank 2007
THE ARROW IS POINTING NORTH Comprised by Denmark, Sweden, Norway and Finland, the Nordic Region is an attractive and lucrative market for U.S. exporters. The Nordic countries are among the world’s wealthiest countries and the region is an important trading partner of the United States. Each year American goods and services worth $15 billion are exported to what is infact the World’s 8th largest economy.
The Nordic region is dynamic, highly sophisticated and very competitive, with a stable political and economic climate. Its 25 million consumers are looking for high-quality and reputable products from abroad. The region effectively serves as a gateway to the Baltic countries as well as northwest Russia, which increases the number of potential consumers to over 80 million. The World Economic Forum’s annual review of global competitiveness ranked the four Nordic countries among the six most competitive economies in the world. The criteria included quality of economic policies, fairness and transparency of legal environment, as well as new technology and innovation. The Nordic countries are also among the least corrupt countries in the world. U.S. companies active in the Nordic markets rarely encounter trade barriers or market access difﬁculties. Each country has its own strengths, but all countries are known for their state-of-the-art infrastructure, efﬁcient telecommunications, transportation and logistics as well as their afﬂuent societies.
50,000 40,000 30,000 20,000 10,000
The Nordic Countries
Gross National Income per capita. The Nordic countries are among the richest in the World. The wealth is generally very evenly distributed, making everyone a consumer.
Denmark, Sweden and Finland are members of the European Union (EU). Norway is linked to the EU through the European Economic Area (EEA) agreement. By virtue of the EEA, Norway is practically part of the EU’s single market. Norway implements most EU directives as a result of its EEA obligations. U.S. made high quality products and services as well as state-of-the-art technology are generally well received.
OUR SERVICES Market opportunities The import climate in the Nordic region is open and receptive to U.S. products and investments. There are generally no signiﬁcant trade barriers or regulations that U.S. ﬁrms need to be aware of. Some of the most promising sectors for market growth for U.S. non-agricultural companies include: • IT and telecommunication equipment and services • biotechnology, medical technology and pharmaceutical products • tourism services • ﬁnancial services • renewable energy systems • offshore oil and gas ﬁeld equipment • consumer goods U.S. companies are projected to maintain and expand their market share in the coming years. In high-technology areas such as information and medical technology. U.S. companies are already market leaders and are expected to increase their lead.
Services play an increasingly important role in the Nordic economies. Important service sectors include management consulting and ﬁnancial services. Tourism is also a growing market and close to 1 million Nordic travelers visit the United States each year.
“Very positive” ”Our experience with the Oslo ofﬁce of the U.S. Commercial Service is very positive. The US Commercial Service is very valuable to the efforts to promote American export business. The success of the efforts of the U.S. Commercial Service in Oslo can be quantiﬁed in orders for U.S. companies and in high quality leads. This ofﬁce has also been extremely helpful to U.S. companies that need to ﬁnd an agent or distributor.” Bruce J. Cole President - McNabb Marketing Resources, Inc.
Company promotions and seminars Each of the four Nordic Commercial ofﬁces are located within the U.S. Embassies in Denmark, Sweden, Norway and Finland. The embassy premises and to some extent also the ambassadors’ residences are open to U.S. companies for various business events and company promotions.
“All is well functioning” “As Scandinavian representatives of American destinations such as California and the U.S. Virgin Islands, we have frequently made use of the embassy facilities in connection with various events, social dinners and receptions. Regardless whether it be small events for limited crowds or more comprehensive events including the press, Commercial Service always manages to set up the best frames for the given event, continuously offering outstanding help and service. The Commercial Service staff, the accommodations, the food, the drinks; everything is always very professional and well functioning. Whenever we do functions at the embassy, we can always be conﬁdent that we leave things in the most capable hands. It doesn’t get better than this.” Karin Gert Nielsen, Managing Director in Scandinavia, California Tourism and U. S. Virgin Islands Department of Tourism 6
These unique and professional platforms are perfect for sales events, product launches, seminars, smaller exhibits, conferences and other promotional activities. The local Commercial Service team will work closely with the client to ensure a smooth and successful event. Services prior to an event may include assistance in ﬁnding the right local contacts to invite, sending formal invitations on Embassy letterhead and manage guest lists. During the event Commercial Service staff will make sure that everything from crowd management, catering and A/V equipment is taken care of.
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Matchmaking Services Although English is widely spoken throughout the Nordic region and many importers and distributors can now be located online, exporters should never underestimate the value of local assistance and knowhow when seeking new and long-term partners abroad.
“Saved us time” ”CS Oslo was very prepared and helpful. The schedule of appointments was well done, we did not waste time and visited many agencies.” Cristiana Kunyczka, Felician College
U.S. Commercial Service has extensive experience in business matchmaking and Specialists are standing by to open doors on behalf of American clients. Local Specialists have broad networks of contacts in every industry to draw upon, and backed by the strong U.S. Embassy “brand” this makes the U.S. Commercial Service a strong and respectable ally.
Three types of matchmaking services are available to U.S. exporters: •
International Partner Search A vetted list of potential business partners who are interested in your speciﬁc product or service
Gold Key Service A customized appointment service to facilitate face-to-face meetings with potential business partners
Platinum Key Service Long-term, sustained support that includes continued counseling on effective market entry and sales strategies, ongoing leads on business opportunities, regular updates on changing market developments, help on regulatory issues and advice on potential market barriers
“Highly professional” ”The Gold Key Services provided by CS Copenhagen in Denmark were planned and delivered in the most thoughtful, highly professional, and personable manner. In advance of the trip CS Copenhagen identiﬁed ideal potential partners in the international higher education sector and arranged meetings with just the right individuals at those institutions. During the three days in Denmark the Specialists provided truly “gold key” service in getting me to appointments on time, providing insights into the Danish higher education culture, posing key questions during the meetings, and offering excellent feedback after the meetings. I was exceptionally pleased with the US Commercial Service’s package and will use it myself again and recommend it to other colleagues. I expect to generate a number of new partners following this trip and will provide speciﬁc information on the level of success.” Dr. Kristine Billmyer, University of Pennsylvania
Each service is available on a national or Nordic basis. Should an exporter choose, for example, the Nordic Gold Key Service, one Specialist will be assigned as the client’s point of contact.The Specialist will then work closely with Nordic colleagues to set up a Nordic program featuring potential business partners in each market.
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Specialist knowledge and very well connected Commercial Specialists in the Nordic region have in-depth knowledge on a wide variety of industry sectors, and if they do not have the answer to a question, they know someone who does! Market intelligence is key in every market and to American companies this valuable information is available from the U.S. Commercial Service - and often even for free.
“Thank you so much!”
Specialists are continuously conducting Industry Overviews with business analyses of a range of industries and sub-sectors and every year, each country publishes an extensive Country Commercial Guide. The Guide contains everything that a U.S. company should know about a speciﬁc country to do business there, including detailed information about the economic and political climate, new investment opportunities as well as an introduction to the local business culture. Need a speciﬁc market investigation? U.S. Commercial Service also does Customized Market Research on a country or regional basis. Depending on the client’s needs, Specialists can investigate both markets and product/service potentials.
”Your representative, did an outstanding job for myself and BG Products, prior to and during my visit to Finland. The meetings we attended were very qualiﬁed and very interested in our products and services. We are already in the midst of in-depth discussions with one of the companies. Thank you so much for your assistance.” Ralph Shattock Market Manager, Europe. BG Products Inc.
“Not possible without!” ”CS Stockholm was excellent. As a result of their research we have now found a good distributor in Sweden and are already exporting to them.” Fraser McLeay, RM International
ad translatører Your Scandinavian language partner Legal � Technical � Medical
First thing to check if you want to succeed in Scandinavia: www.norelidholm.com
AdvokatďŹ rman NorelidHolm Birger Jarlsgatan 15 Box 7394 103 91 Stockholm Tel: +46 8 463 04 60 Fax: +46 8 463 04 70 email@example.com www.norelidholm.com
Contact us Denmark U.S. Commercial Service Embassy of the United States of America Dag Hammarskjölds Allé 24 DK-2100 Copenhagen www.buyusa.gov/denmark
Finland U.S. Commercial Service Embassy of the United States of America It. Puistotie 14 B FI-00140 Helsinki www.buyusa.gov/ﬁnland
Norway U.S. Commercial Service Embassy of the United States of America Henrik Ibsens Gate 48 N-0244 Oslo www.buyusa.gov/norway
Sweden (Iceland, Estonia & Latvia) Embassy of the United States U.S. Commercial Service Dag Hammarskjölds Väg 31 SE -115 89, Stockholm www.buyusa.gov/sweden