DYNAMICS OF RELATIONS BETWEEN UKRAINE AND THE KINGDOM OF NORWAY IN THE CONTEXT OF THE RUSSIAN FEDERATION’S AGGRESSION
DOI:
https://doi.org/10.29038/2524-2679-2021-03-182-200Keywords:
Ukraine, the Kingdom of Norway, foreign policy and economic relations, investment climate and dynamics of mutual cooperationAbstract
The article analyzes the dynamics of Ukrainian-Norwegian relations in the foreign policy and economic spheres under the context of Russia's aggression against Ukraine (2014-2021). The research was conducted from the standpoint of structural and functional approaches, the use of methods of documentary, content and comparative analysis.
Ukrainian-Norwegian relations in the political dimension have significantly intensified since the beginning of the Revolution of Dignity in late 2013. Since the occupation of Crimea, the Kingdom of Norway has clearly stated its support for Ukraine's sovereignty and territorial integrity. During 2014-2018, there was an intensive political dialogue at the highest and high levels, the framework of the regulatory and contractual framework of bilateral partnerships was developed.
The Ukrainian-Norwegian Intergovernmental Commission on Cooperation in Trade, Entrepreneurship and Economy, established in 2014, has become an important tool for economic cooperation. During its meetings in 2016, 2018 and 2020 the status and prospects of bilateral cooperation, the status of the Free Trade Agreement between Ukraine and the EFTA States, cooperation in energy and energy efficiency, transport, seafood trade, fisheries, agriculture, culture and tourism were discussed and agreed upon. A bilateral dialogue on European integration was established. In this context Norway shares with Ukraine the experience of European integration outside the EU membership. Norwegian investments in the Ukrainian economy are aimed at improving energy efficiency, reforming the energy sector and improving nuclear safety. Norwegian companies Scatec Solar and NBT have become powerful investors in the field of renewable energy.
After 2019, there is a slowdown in cooperation in the political and economic spheres. Indicators of foreign trade in goods and services are declining. Norwegian investors are mostly concerned and frustrated by the degree of transparency of investment conditions, sudden legal changes in the distribution of renewable energy sources and the reversal of new legal norms. Preservation and consolidation of such processes may hinder the positive dynamics of Norwegian investment growth in Ukraine's economy and further bilateral economic cooperation.
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