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Featured Language: Danish
Doing Business in Denmark
Denmark is a constitutional monarchy which shares a southern border with Germany and is connected by bridge to southern Sweden. It is a rich, modern society with a state-of-the-art infrastructure and distribution system, a highly skilled labor force, and a central location that makes it an excellent distribution point for the Scandinavian, Northern Europe, and Baltic markets.
U.S - Danish Trade and Market Relations
Denmark is a firm advocate of liberal trade and investment policies and actively encourages foreign investment. The country has been a member of the European Union (EU) since 1973. However, Denmark local currency is not the Euro, but rather the Krone.
According to the U.S. Department of Commerce, political and commercial relations with Denmark are excellent. The United States is Denmark's largest trading partner outside the EU and has a share of 5.2 percent of total Danish trade in goods. The import climate is open and receptive to U.S. products and investments. There are no significant trade barriers or regulations that U.S. firms need to take into consideration.
Denmark’s major imports from the United States are: industrial machinery, capital equipment, computers and telecom products, software, aircraft, and scientific instruments. Other important U.S. exports to Denmark are military equipment, chemicals and pharmaceuticals, tobacco, wine, fresh vegetables, nuts, and forest products.
The most promising sectors for market growth for U.S. non-agricultural companies include: IT and telecommunication equipment and services, biotech and pharmaceutical products, tourism services, financial services, electrical power systems, offshore oil and gas field equipment, consumer goods, and advanced medical equipment.
Business Culture
Doing business in Denmark, it is important to remember that advance appointments are required, and punctuality is a must – it is considered rude to be late. Danes work shorter hours than Americans – the standard work week is 37 hours. Mandatory vacation is five weeks plus up to five more days per year plus local holidays; at least three weeks are taken during the summer, and generally, business is slow in that period. It is not advisable to schedule business meetings or other business activities in Denmark from late June to early August, from December 20th - January 5th, or during the week of Easter. Businesspersons should not routinely expect to meet with their Danish counterparts after 4:00 p. m on weekdays. On Fridays, many Danes leave early, generally around 3:00 p.m.
SOURCES:
http://www.export.gov
http://www.buyusa.gov/denmark
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