A number of large Danish companies are with Foreign Minister Lars Løkke Rasmussen (M) in the US state of California on Friday, where the foreign minister is to sign a cooperation agreement.
According to the Confederation of Danish Industry, the business promotion shows that Danish companies continue to see US states as interesting markets, even though the US has imposed a 15 percent tariff on goods from the EU.
- 15 percent punitive tariffs on European goods are a challenge for growth and prosperity on both sides of the Atlantic. Fortunately, there are still plenty of opportunities in the US states, says the Confederation of Danish Industry's international director, Thomas Bustrup, in a press release.
According to data from the US government, California would be the world's fourth largest economy if the state were a country. In 2024, California had a GDP of 4.1 trillion dollars. In the same year, the fourth largest economy, Japan, had a GDP of 4030 billion dollars according to figures from the International Monetary Fund (IMF).
Great potential
According to the Confederation of Danish Industry, California is Denmark's 27th largest export market. Therefore, the business organization believes that there is great potential for Danish companies in the state. Companies within water supply, CO2 reduction, data, agriculture and life science have traveled with Løkke to California.
According to the Ministry of Foreign Affairs, the Minister of Foreign Affairs himself will meet with a number of key players from the tech industry in Silicon Valley. He will also meet with California's governor, Gavin Newsom. Løkke and Newsom will sign an agreement here that will create closer cooperation between California and Denmark, it says.
According to the ministry, the agreement focuses, among other things, on increasing climate resilience as well as technology and research.
Thomas Bustrup explains that the agreement will specifically create closer cooperation between the state of California and the Danish embassy.
It will create more focus on Danish solutions in California, and it will be more flexible for Danish companies to enter into a collaboration, it says.
The major cities of Los Angeles and San Francisco are located in California. So are Hollywood and Silicon Valley, where a number of large tech companies, including Meta, are based.
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