KUALA LUMPUR: Nordic countries account for a combined trade of 750 million euros (about RM3.495 billion) in exports with Malaysia.
On the other hand, the region has imports worth 950 million euros (about RM4.427 billion) from Malaysia.
The Nordic region comprises Finland, Sweden, Norway, Denmark and Iceland.
Speaking on their behalf, Finland’s ambassador to Malaysia Petri Puhakka said in proportion to the size of the Nordic region’s population of 27 million, trade with Malaysia (with a population of 32 million) was on a "fairly notable level".
“There is great potential for growth. For example, on green energy between the region and Malaysia.
“Sustainability and respect for nature are highly valued by the Nordics, without contradicting healthy economies.
“In fact, carbon dioxide emission in the Nordic went down by 20 per cent, while the gross domestic product doubled between the 1995-2014 period,” he said at the Nordic Day celebration at JW Marriott Hotel in Jalan Bukit Bintang.
Present were Energy, Science, Technology, Environment and Climate Change Minister Yeo Bee Yin and Primary Industries Minister Teresa Kok Suh Sim.
Also present were Swedish ambassador to Malaysia Dag Juhlin-Dannfelt, Danish ambassador to Malaysia Jesper Vahr and Norwegian ambassador from Malaysia Gunn Jorid Roset.
A local band played a medley of national anthems of the five Nordic countries, followed by the Negaraku.
Puhakka said there were a total of 260 Nordic companies in Malaysia.
Among them are Volvo, Carlsberg, Saab, Novo Nordisk and Aker Solutions.
“The Nordic companies have a close, well-functioning and prospering relationship with Malaysia, offering its local partners various possibilities for cooperation and trade spin-offs,” said Puhakka, adding that there were about 1,100 Nordic citizens living here.
He added that the Nordic region was the seventh largest in the world, larger than the Indian sub-continent.
“However, it has the world´s 12th largest economy.
“Although taxes are high in the Nordic, they are viewed as an investment to people’s wellbeing.
“Almost all education, healthcare and childcare is completely paid for by the state.
“This means that everyone gets a fair chance, no matter what circumstances they were born into,” said Puhakka.
He added that social welfare was also there for those who failed in business.
“If you fail at your business, the rest of your life will not be ruined, as you will receive welfare that enables you to keep your home and support your family while you get back on your feet,” he said.
He added that the Nordics placed emphasis on education and shared an employment culture based on knowledge-intensive sectors, high creativity and problem-solving abilities.
Looking back, Puhakka said the Nordic kingdoms originated from the Vikings who sailed and traded in the region circa 1000.
“Eventually these kingdoms from Norway, Denmark and Sweden merged, split or changed shape, but the strong historical ties were always upheld.
“In the 20th Century the Nordic nation states took shape when Norway got its independence from Sweden, Finland declared its independence from Russia to which it was attached in 1809, and Iceland got its independence from Denmark.
“Even with the birth of the nation states, there was a clear willingness to develop cultural, political and economic cooperation and even integration,” he said.
Puhakka added that the labour market was free between all Nordic countries, with citizens enjoying the freedom of movement across the entire region.