Trade relations with China 'valuable'

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"Together with the legacy from Alfred Nobel and the Nobel Prize, the city is fertile ground for innovation-driven companies," said Nordin.

Sino-Swedish relations have grown steadily since the two countries established diplomatic and trade relations 60 years ago.

To date, China remains Sweden's most significant market in Asia. The local business community remains optimistic that trade with Beijing will flourish further.

"Both imports and exports have increased with two-digit numbers over the years," said Nordin.

There are 550 Swedish companies in China and the number is expected to rise further, while over 10,000 Swedish firms have conducted business in China.

Outside Stockholm, the city of Gothenburg on the western coast of the country remains a major contributor to the Swedish economy and to trade with China.

The base of the Swedish East India Company in 1731, Gothenburg has ties with China that go back hundreds of years. Those relations became stronger when it became a sister city of Shanghai in 1986.

The second-largest city in the country and home to Volvo and the SKF Group, Gothenburg has its roots in shipping, one of Sweden's oldest traditional industries.

With the Nordic region's largest port, Gothenburg is a gateway to northern Europe, with about 70 percent of Scandinavia's total industrial capacity located within a 500-km radius. Its central location has made it an ideal trading ground for large companies throughout Europe.

Beyond traditional trade and manufacturing, Sweden has recently exhibited innovative strength in environmental technology.

"Renewable energy and sustainability have been features of Swedish business and daily life since long ago," said Confederation of Swedish Enterprise CEO Urban Backstrom.

Environmental awareness and energy efficiency have assumed greater importance for all companies all over Sweden, with many of them consistently lessening their impact on the environment.

Companies such as Envac have introduced sustainable waste management in some Asian countries, such as China and the Republic of Korea.

As it assumes the rotating EU presidency in the second half of this year, Sweden aims to highlight the importance of collaboration to restore confidence in the battered world economy.

"Collaboration means understanding and learning from each other. There are always lessons to be learned from others. The Chinese people have a determination that is impressive," said Nordin.

That Chinese determination, together with the distinct Swedish business culture, will remain the basis of a valuable relationship that will continue to grow as the global economy rethinks the definition of sustainable development and economic growth.

Researched and written by Martin Kann and Martin de Guzman in Stockholm for World Eye Reports

(China Daily 03/02/2009 page7)