Michael de Laine

By Michael de Laine, The Copenhagen Voice, 29 April 2009

New figures show that Denmark’s trade volume with China exceeds the trade volume with the US. China has become Denmark’s most important commercial partner outside Europe and the country’s sixth-largest commercial partner in terms of exports.

The latest figures from 2008 show that Denmark’s trade volume with China (including Hong Kong) surpassed our trade volume with the United States, Prime Minister Lars Løkke Rasmussen said yesterday at the annual general meeting of the Danish-Chinese Business Forum.

“China has become our most important commercial partner outside Europe,” the Prime Minister said. “China has overall grown to become Denmark’s sixth-largest commercial partner in terms of exports.”

Noting that the Danish-Chinese Business Forum is the only Danish business network focusing on China, Løkke Rasmussen said China is of crucial importance to Denmark. As all of you here today very well know, China has already developed into perhaps the greatest opportunity for Danish companies. As the Chinese saying goes: ‘China is the place where nothing is easy, but everything is possible’.

“In the political field, we have seen the same positive development,” the Danish Prime Minister said.

Last October, Denmark and China agreed on a comprehensive strategic partnership as an expression of the mature relationship between China and Denmark.

“This is a relationship where we can discuss all issues – also the issues where we do not necessarily agree,” Løkke Rasmussen said. “To underpin the strategic partnership, the Danish government launched its first ever Denmark-China action plan. The key focus of the action plan is on research, innovation and education, as well as on climate, energy and environment.

“I believe these are areas where closer Danish-Chinese cooperation has a lot to offer – also during these more turbulent economic times.”

Chinese growth rates show that, despite the economic crisis, China is in the league of heavyweight economies, and the recovery from the effects of the global financial crisis may very well give China an even stronger role in the global economy.

“Denmark is doing its utmost to be part of this development,” the Prime Minister said. “And we engage strongly with China. The bilateral exchanges between Denmark and China have increased in all spheres over the past years. That is the case both at the governmental level, commercially, people-to-people and in research and education. This provides both Denmark and China with an opportunity for mutual benefits.”

He said Denmark can contribute by involving its citizens and welfare society.

“We can share best practices in for example the labour market with our flexicurity model and corporate social responsibility, and with expertise on energy and the environment,” he said.

For many years China was thought of as primarily a market for production and sourcing, Lars Løkke Rasmussen said. While this is still true, in the sense that China is still the most important sourcing market in the world, and will remain so for years to come, China today is so much more.

“A lot of my children’s toys have a ‘Made in China’ label written on the back,” he said. “But today I can also buy a mobile phone, which is not only made, but also created, innovated and designed in China.”

China is developing from the world’s factory to the world’s high tech innovation lab.

“I believe Denmark is in a unique position to help China realise her potential as a knowledge-based society,” the Danish Prime Minister said. “As a country without natural resources, wealth in Denmark is based on the knowledge and innovative force of our people. China – I believe – has a strong wish and interest to learn from that experience.”

He said the rapid growth of the Chinese market is a development which is not limited to one specific area but is widespread. It creates opportunities for a growing number of Danish companies. This potential is vast and yet to be fully realised.

“I am confident that the importance of the Chinese market for Danish companies will continue to increase,” Lars Løkke Rasmussen said. “We see a new economic order evolving, and Denmark should be part of this. We have a lot to offer – not least within the area of green growth.”

He said the Danish business community and the Danish Government have a common project: to continue to make use of the opportunities in China. Denmark’s network of representations in China stands ready with their outstanding services to assist Danish businesses in strengthening their position on the Chinese market.

“A Chinese proverb says: ‘If you think too long on your next step, you will end up in life standing on one leg’,” the Prime Minister said. “Denmark is ready to take fast steps ahead to keep pace with the political and economic developments in China, which are already shaping the world.”

For the whole of the address go to: http://www.stm.dk/index.dsp?page=12827