Business

Hydro is entering into a joint venture with the Australian mining company United Minerals Corporation (UMC) with the intention of recovering bauxite and producing alumina in Kimberley, Western Australia. The agreement, which was signed in Oslo on Tuesday 13 November 2007, gives Hydro a 75 percent share in the partnership.

The trade between Norway and Australia is modest but steadily increasing. The most important import articles from Australia are nickel and wine. The most important export articles from Norway to Australia are machinery and electronic equipment. Norway also exports weapons, cheese and seafood to Australia.

As of 1 January 2004 the new state owned company Innovation Norway has replaced the following four organisations: the Norwegian Tourist Board, the Norwegian Trade Council, the Norwegian Industrial and Regional Development Fund, SND and the Government Consultative Office for Inventors, SVO. Innovation Norway promotes nationwide industrial development profitable to both the business economy and Norways national economy, and helps release the potential of different districts and regions by contributing towards innovation, internationalisation and promotion. The new state owned company emp...