The participants in the meeting discussed a wide range of issues concerning relations between Russia and Norway in the field of investment, trade and economic cooperation. The meeting focused on interaction in the area of modern technologies for hydrocarbon extraction, transportation and processing, transport, information technologies and telecommunications, energy efficiency and energy-saving, fisheries, aquaculture and fish processing and ship-building. The Commission also reviewed the state of the legal framework for bilateral cooperation.

As a result of the Commission's session, a protocol of the Commission's meeting was signed, a programme of joint action for 2012-2014 in the field of tourism, as well as an executive protocol to the June 8, 2007 Agreement between the Government of the Russian Federation and the Government of the Kingdom of Norway on Readmission.

Summing up the results of the Commission's session Viktor Zubkov said, in part:

"Constructive and, most importantly, productive talks on Russian-Norwegian economic cooperation have just concluded. We have considered a wide range of the most topical issues of trade and economic relations between our countries.

"Last year bilateral trade increased by 37% to reach almost $3 billion. In nine months of 2011 Norwegian investments in the Russian economy and Russian investments in the Norwegian economy were about level at $230 million.

"We believe – and this is our shared opinion – that these indicators can be significantly enhanced if the deep potential of our interaction is tapped.

"Therefore we held a substantial discussion today of the progress of our earlier agreements, and identified new and additional opportunities for providing an impetus to and investing in Russian-Norwegian cooperation with new vigor.

"Above all, this is taking place in the field of modernisation and innovation, as well as technology for extracting, transporting and processing oil and gas. Our agreements on Shotkman and other projects are proceeding according to schedule. This holds the promise that these projects will be implemented."

"Among other issues discussed were energy saving, energy efficiency, information technologies and telecommunications, fisheries and fish processing, as well as joint work in the field of shipbuilding, where there is colossal untapped potential. The ad hoc group created for this purpose is doing a great deal to launch specific projects, and early results can already be reported.

"Two Russian-Norwegian business forums have already been held. That is a good launching pad for regular contacts between entrepreneurs of the two countries. Today we agreed to hold the third meeting in the fourth quarter of this year in Oslo. Such meetings have proven to be effective. The second business forum held in Moscow last November was attended by more than 200 businessmen from Russia and Norway. This practice must continue."

In conclusion Viktor Zubkov thanked Trond Giske for his cooperation.