Bilateral meeting with the Finance Minister of China during G20 Summit

The Finance Ministers of China and Norway met in Hamburg in the margins of the G20 Summit Friday. The ministers discussed the global economic situation and the strong economic links between the two countries.

"I appreciate that the relationship between China and Norway is normalized. This lays the foundation for further strengthening our economic cooperation and is important for Norway," says Finance Minister Siv Jensen.

The Finance Ministers of China and Norway

Finance Minister Siv Jensen (Norway) and Finance Minister Xiao Jie (China).

China and Norway have common interests in a well-functioning rules-based multilateral trading system. This is important for a healthy and sustainable global economy. We welcome the restart of the negotiations of a free trade agreement between China and Norway, which will further improve our economic prospects. The ministers also recognized the importance of starting negotiations on the update of the tax treaty between the two countries when necessary.

"Since the present tax treaty was signed in 1986 there has been a substantial development in the economic relationship between our two countries and the international framework for tax. A modernization and customization of the treaty, especially to avoid double taxation, would further promote trade and investments between China and Norway," says Jensen.