2025 has already brought important trade policy wins for two Nordic economies: Norway and Iceland. As members of the European Free Trade Association (EFTA), they’ve helped secure two new free trade agreements—one with Malaysia and another with Ukraine—while also modernizing an earlier deal with Thailand.
These agreements cover a wide range of sectors, including industrial goods, agriculture, services, and sustainable development. For exporters in Norway and Iceland—and indirectly, their Nordic neighbors—this creates promising openings in Southeast Asia and Eastern Europe. Malaysia’s growing middle class, Thailand’s expanding infrastructure sector, and Ukraine’s rebuilding efforts all present tangible market entry opportunities.
For Nordic manufacturers, the advantages are clear: reduced tariffs, simpler customs procedures, and stronger legal protections. Companies in machinery, food processing, and energy technology are particularly well-positioned to benefit.
What’s more, these deals serve a strategic purpose beyond immediate trade flows. They help Nordic exporters hedge against uncertainty in traditional markets like the EU, UK, and US—regions now facing inflationary pressure, political risk, or shifting trade barriers.
As global supply chains reorganize and emerging markets modernize, Nordic firms that act early under these new FTAs could lock in competitive advantages. Now is the time to explore which sectors and products align with the fresh demand—and to prepare for smarter, more diversified trade.