The MoU was signed by Maroš Šefčovič, Executive Vice-President for the European Green Deal, Interinstitutional Relations and Foresight of the European Commission, and Jan Christian Vestre, Minister of Trade and Industry of the Kingdom of Norway.
The new partnership offers a comprehensive framework for future-oriented and long-term cooperation between the EU and Norway in the area of two value chains of strategic importance. Supported by geographical vicinity, their closer integration can help decrease the risks of trade disruptions, while increasing overall competitiveness of our economies and creating high-quality jobs.
The signature coincides with the 30th anniversary of the European Economic Area Agreement, which ensures Norway's participation in the Single Market and forms a cornerstone for our relations. It further demonstrates their potential.
This MoU establishes close cooperation between the EU and Norway in the following five areas:
- Integration of raw materials and batteries value chains, by facilitating joint investment projects through joint ventures, consortia, special purpose vehicles and other forms of cooperation by industrial actors, including linking final users with raw materials suppliers.
- Cooperation on research and innovation (R&I), while results from joint projects will provide a good basis for potential industrial uptake and implementation. Norway was very active in EU Framework Programme for R&I - Horizon 2020 and continues to do so under the current Horizon Europe.
- Application of high environmental, social and governance standards and practices will be facilitated through mutual consultation and exchange of information on relevant policies and initiatives along the entire value chains, including recycling and waste management.
- Mobilisation of financial and investment instruments to support investment projects under the Partnership, notably through Invest EU, the European Raw Materials Alliance and the European Battery Alliance.
- Developing necessary skills for high-quality jobs in raw materials and battery sectors. This includes mobilising stakeholders and financial support for the development and deployment of adequate initiatives and the uptake of existing ones like the European Battery Academy.
Following the signature of the MoU, the EU and Norway will jointly work with stakeholders on implementing the Roadmap for the Partnership.
The partnership on raw materials and batteries is one of the building blocks of the EU-Norway Green Alliance, signed in April 2023, with the objective of strengthening joint climate action, environmental protection efforts, and cooperation on the clean energy and industrial transitions.
Norway is a mineral rich country with rare earths, magnesium, titanium, vanadium, phosphate rock and other resources under consideration. It also has a large processing capacity for many raw materials. In the past years, the battery sector has been growing significantly, with many new ventures across the full value chain.
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