Nordic-Baltic cooperation

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Overview:

The eight Nordic-Baltic countries are participating in the Raisina Dialogue in New Delhi together as representatives of the Nordic-Baltic cooperation.

About Nordic-Baltic cooperation

  • It is a regional cooperation format which as of 1992 has brought together five Nordic countries and three Baltic countries in order to discuss important regional and international issues in an informal atmosphere.
  • In 2000, it was decided that the Nordic-Baltic cooperation format would be called Nordic-Baltic Eight (NB8).
  • Member countries: Finland, Sweden, Norway, Iceland, Denmark, Estonia, Latvia and Lithuania.
  • Nordic countries are members of the European Union (except Iceland and Norway which are members of EFTA).
  • Nordic countries collectively represent an economy of more than USD 2.012 trillion with a population of just above 27 million allowing a very high standard of living.
  • India and NB8
    • The Nordic-Baltic cooperation with India spans fields as diverse as innovation, green transition, maritime, health, intellectual property rights, new technologies, space cooperation and artificial intelligence, student exchanges, culture and tourism.
    • Trade and investment figures between the Nordic region and India are steadily increasing.

 Q1) What is the European Free Trade Association (EFTA)?

It is an intergovernmental organisation established in 1960 by the Stockholm Convention.It aims to promote free trade and economic integration between its members within Europe and globally.

Source: The NB8 visit to India focuses on cooperation and trust