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TRADE

Denmark gets its first World Trade Center

The Copenhagen suburb of Ballerup is now home to a World Trade Center location and the group behind the project hopes that companies will soon take up residence.

Denmark gets its first World Trade Center
The World Trade Center in Ballerup. Illustration: Kongeegen A/S
For most people, the name World Trade Center is associated with the terrible terrorist attack that claimed 3,000 lives in New York City on September 11th, 2001. 
 
But there are actually World Trade Center (WTC) locations in over 300 cities worldwide. On Friday, Denmark joined the over 100 countries to have a WTC with the opening of a centre in the Copenhagen suburb of Ballerup.
 
The 16,000 square metre building has been converted to a  WTC by the company Kongeegen A/S, who are hoping the WTC name will attract many companies to the location.
 
“Our biggest challenge will be that Danes only know the centre that was brought down 13 years ago. Our mission will be to communicate to companies that this is an international trade centre with bases all over the world,” Kongeegen owner Ib Henrik Rønje told Politiken. 
 
“There is a lot of prestige to having the World Trade Center on your business card, and that’s something that they know well abroad,” he added. 
 
Henrik Fogh Rasmussen, a US-based Copenhagen Goodwill Ambassador, agreed. 
 
“The opening of new World Trade Center in Ballerup solidifies Copenhagen's status as a global city,” Rasmussen told The Local via Twitter. 
 
Prior to the opening of the WTC in Ballerup, the closest location to Denmark was in Malmö, Sweden, one of three Swedish locations with another one on the way. 

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TRADE

Norway and UK strike post-Brexit trade deal

Norway and the United Kingdom have struck an agreement on a free trade deal, the Norwegian government announced on Friday.

Norway and UK strike post-Brexit trade deal
Erna Solberg outside 10 Downing Street in 2019. (Photo by LUDOVIC MARIN / POOL / AFP)

Negotiations over the agreement have been ongoing since last summer, and the Norwegian government said that the deal is the largest free trade agreement Norway has entered into, outside of the EEA agreement. 

“The agreement entails a continuation of all previous tariff preferences for seafood and improved market access for white fish, shrimp, and several other products,” the Ministry of Trade and Industry said in a statement.  

One of the sticking points of the negotiations was Norway wanting more access to sell seafood in the UK, while the UK wanted more access to sell agricultural products like cheese.

The latter was a problem due to Norway having import protection against agricultural goods. 

“This agreement secures Norwegian jobs and value creation and marks an important step forward in our relationship with the UK after Brexit. This is a long-term agreement, which at the same time helps to accelerate the Norwegian economy,” Prime Minister Erna Solberg said in a statement.  

 The United Kingdom is Norway’s second most important single market, after the EU. In 2020 Norwegian companies exported goods worth 135 billion kroner to the UK and imported around 42 billion kroner of goods from the UK. 

Norway has given Britain 26 quotas on agricultural products, but not for mutton and beef. The agreement does not increase the UK’s cheese quotas, state broadcaster NRK have reported. 

The agreement will still need to be signed by both the Norwegian and UK parliament. 

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