The development of the Russian international partnership is obvious; presently there are over 30 Norwegian companies working in the Murmansk region, whilst the sales turnover between the two countries increased over 1/3 for the period of the first half of 2008. The year 2008 exemplifies the international business boost with signing a memorandum of understanding between Statoil Hydro and Murmansk regional government in early January; “The signing of the new MOU is a demonstration of continuity and long-term plans towards our region”, said the Governor of Murmansk Oblast, Yury Evdokimov, after signing the agreement. “We will further develop our cooperation and join our efforts for the benefit of our region.” Later on this year French company Total comes on the Murmansk oil market; Reinertsen NWR in cooperation with FMC technologies accomplishes one of its biggest projects — Sigrid; Olen Betong opens the concrete plant in Murmansk; FIBA is organized to centre foreign investors and facilitate the exchange of information and opinions between international and local businesses as well as the Government of the Murmansk region and official authorities.

FIBA actively works for:

• creating good relations to official authorities by cooperation and giving suggestions on opportunities for improvement of market, legal, administrative and other regulatory conditions based on Western European and other experiences;
• increasing the exchange of experience between member enterprises related to market introduction, the Russian regulatory framework, general economic and social conditions and the like;
• improving economic environment of the Murmansk region and foster foreign investment in the Murmansk region maintaining dialog with the official authorities;
• arranging members’ meetings to exchange information and arrange meetings with official authorities on behalf of its members in order to possibly improve conditions for doing business in the Murmansk region for its members;
• liaising with official authorities in the members’ countries of origin, who are interested in cooperation in industrial development with North Western Russia.