Axess Group partakes in dialogue on export opportunities in Norway

Axess Group’s HSEQ and HR Manager, Mr. Arne Litlere, has participated in a forum with the Norwegian Foreign Minister, Mr. Børge Brende, on 2 August 2017 in Molde, Norway, exploring export opportunities for businesses in Norway. Business leaders from various industries shared their thoughts on wealth tax, oil price fall, the European Economic Area (EEA) agreement, and the importance of tax for multi-national companies.

According to Litlere, despite the oil slump which resulted in major staff cuts in the last two years, the oil service company is now recovering with a series of significant awards on a global scale. While it is rewarding to follow and support their clients globally, Litlere said it has become equally challenging for a multi-national company like theirs to optimise their taxes. To resolve this, he shared that the best solution is to involve advisors and lawyers who are experts in tax law, compliance and planning. This allows the company to understand complex issues and resolve tax law concerns more efficiently.

Other companies from manufacturing, engineering and material handling industries shared how they have adapted to the downturn of oil and energy industry.

Jon Daniel Nesje from Wonderland said that while there is a tough competition in exporting beds abroad, he capitalises on collaborating with other companies and creating unique goods to drive success. He added that the “Made in Norway” brand remains a quality and competitive stamp abroad.

Mr. Kjell Ødegård, from the engineering company AXTech, believes that wealth tax should be reduced as it affects small to medium-sized enterprises in Norway. Aukra Maritime’s representative, Mr. Per Arne Rindarøy, shared how the crane supplier has shifted from oil-related activities to the thriving fishing industry, has made them rely on global exports within the fishing industry to increase revenues.

The Norwegian Foreign Minister concluded that the market change has already begun and that different industries have started to adapt to export at full speed. He added that politicians should not only focus on a single industry, but it is important to set sound framework conditions so entrepreneurs and innovators can seize more opportunities.

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