Few economies in the world affect Danish prosperity and employment as much as that of the US. The US is the world’s largest economy, largest investor, and the world’s most innovative country. When things go well in the US it directly affects Danish export to the United States, American investments in Denmark and knowledge based collaboration across the Atlantic.
Relations are strong and at this moment we see a number of developing market tendencies in American society matching Danish competencies. Therefore, in order to ensure that Denmark and Danish companies benefit from the opportunities in the US, we have elaborated a new action plan with 23 specific growth initiatives in export, investment and innovation between Denmark and the US. The aim of the Trade Council’s new “Growth through Export” strategy is to increase Danish exports by 25% between 2013-2016, which would create jobs and spur growth in Denmark benefitting many ADBC members.
Among the current market tendencies with potential for Danish companies are: US health sector is changing dramatically with the potential of 35 million new patients covered under the Affordable Care Act; increasing water consumption and wastewater challenges create a large demand for efficient water technologies; food safety has become a main focus for consumers as well as authorities; Danish shipping companies currently transport 15% of all goods entering or leaving the United States by ship and growth in the transportation of energy is expected.
Therefore, the strategy is focused on areas of strong Danish competences, such as Green Growth, Healthcare, Food and Shipping. The initiatives include: establishing the Water Technology Alliance to provide solutions on waste water handling; establishing a food cluster of Danish companies to better access the US market through a sales alliance and establishing a new team within the Trade Council US to assist Danish supply to the Oil & Gas industry. Also as part of the action plan, Danish companies will be kept informed regarding the progress of The Transatlantic Trade and Investment Partnership.
ADBC will arrange a number of interesting events in 2014 – with more activities for each area within our established working groups. As always, we welcome any input you may have regarding issues and events that would be of interest to you and your business.
I look forward to continuing the close cooperation within the American Danish Business Council throughout the coming year.
Ambassador Peter Taksøe-Jensen
Read the growth plan here (Danish Only).