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By Synergy Media specialists

The Nordic region (Norden) consists of the sovereign states of Denmark, Norway, Sweden, Finland, Iceland and the autonomous regions of the Faroe Islands, Greenland and Aland. Nordic countries share similar economic and social models, namely market economies, economic efficiency and all are notably welfare states.

Each country and autonomous state consistently heads key metrics on national performance, including economic competitiveness, education and human development.

Nordic countries are among the best macroeconomic performers in the last decade and collectively, the combined Nordic region is the 11th-largest economy in the world. Foreign trade accounts for a significant proportion of economic activity in the region. The value of Nordic exports amounts to approximately two-thirds of Japan’s total exports. 2021 will mark the 50th anniversary of the Nordic Council of Ministers. The council’s vision is to create the most sustainable and integrated region in the world by 2030.

Japan and the Nordics

The Nordic region is one of Japan’s key trading partners within the European Union (EU). On Feb. 1, 2019, the EU-Japan Economic Partnership Agreement entered into force; eliminating more than 90% of Japanese duties on imported goods with a preferential origin from the EU. Traditional key exports from the Nordic region to Japan include forestry products such as timber, pulp and paper, fish, seafood and other marine products, in addition to iron ore, oil and gas. Nordic ties with Japan continue to develop. Through the exchange of consumer products and innovation-driven industries such as life sciences, pharmaceuticals, manufacturing, technology, agriculture, food and beverage and sustainability, Japan will remain closely connected to the Nordic region.

Nordic insights

“Japan and Denmark have an important strategic partnership and firmly support the multilateral free trade and investment system. The Japan-EU EPA enacted in 2019 can further enhance our opportunities.” - Ambassador of Japan to the Kingdom of Denmark Manabu Miyagawa “Finland and Japan’s warm and close diplomatic relationship spans over 100 years. Finnish nature and design, as well as our down-to-earth lifestyle and well-functioning society are widely known among Japanese consumers.” - Minister for Development Cooperation and Foreign Trade Ville Skinnari “Around the world, Danish foods are synonymous with high quality, reliability and excellent hygiene, which match the Japanese market, which has some of the most demanding customers when it comes to quality.” - CEO of Food Nation Denmark Lise Walbom

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