Nordic & Baltic countries
Nordic countries have a long history of collaboration and exchanges between companies, research centres and associations and States. The 5 Nordic countries (Sweden, Denmark, Norway, Finland and Iceland) developed their connections after World War II, starting with the creation of the Nordic Council in 1952 and the establishment of a common labour market and free movement of citizens without passports inside the region.
The collapse of Soviet Union has completely changed goods and investment flows in the region. The Baltic Sea has recovered its central position for exchanges and has stopped being a border. Massive Nordic investments in the Baltic countries (Lithuania, Latvia and Estonia) have strengthened regional integration, and now Baltic companies are also gaining market share on Nordic markets and expanding their networks. There are also many bridges towards neighbouring markets (Germany, Poland-Central Europe, Russia and North America).
These countries have progressively joined the European Union, and while Norway and Iceland remain outside for now they are part of the European Free Trade Association and have much of their legislation adapted to European Union rules.
In term of size, 32 million inhabitants live in this area. The aggregated GDP is higher than the GDP of Spain, Russia or Brazil and the 8 countries together would be the world's 8th ranking economy.
Despite these growing exchanges and connections, each market retains its own specificities. For a foreign provider targeting these markets, it is essential to combine both a Nordic/Baltic regional strategy with a country-based strategy to optimise sales and increase business opportunities.
Useful links
Region
Sweden
Denmark
Finland
Norway
Lithuania
Latvia
Estonia
Iceland