45Norway to ASEAN decreased
from US$32.7million in 2016 to
US$14.9million in 2017.
Through the ASEAN-Nor-
way partnership, the two sides
will also share experience in the
SME sector, including transfer of
technology to increase the role of
SMEs in the regional and global
supply chain. In particular, the
area of sustainability in of greatinterest to Norway, such as sus-
tainable natural resource manage-
ment and biodiversity conserva-
tion, as well as the promotion
of energy efficiency, renewable
energy and other clean energy
programmes and technologies
which will contribute to enhanced
food production, sustainable de-
velopment, agricultural productiv-
ity and environment.environmental protection,
maritime and marine, and people-
to-people exchanges, including
education and culture.
For example, the ASEAN
Climate Change and Energy
Project (ACCEPT) is a three-year
project that will produce analysis
and actionable recommendations
to make ASEAN energy policies
more coherent. The project is
jointly implemented by the Nor-
wegian-ASEAN Regional Integra-
tion Programme (NARIP), with
total funding of US$1,657,060.
Taken as a whole, ASEAN
represents Norway’s fourth
largest trading partner. There are
currently around 250 Norwegian
companies operating in the
region—the highest concentration
of Norwegian companies
operating abroad. These operate
mostly in areas such as oil and
gas, fertilizers, and maritime.
ASEAN and Norway have
enjoyed robust trade and invest-
ment relations over the past years
despite fluctuation. The total two-
way trade between ASEAN and
Norway decreased by 20 per cent
from US$4.15 billion in 2016 to
US$3.31 billion 2017. ASEAN’s
exports to Norway decreased
from US$2 billion in 2016 to
US$1 billion in 2017, and imports
from Norway was relatively
stable in 2016 and 2017 at US$2
billion. Meanwhile, foreign direct
investment (FDI) flows from