the main purpose of the banknote project is to have banknotes that are even more secure than previous banknote series. leif veggum, director of norges bank ’ s cashier ’ s department, is soon going to tell us about the security features that make the banknotes almost impossible to counterfeit. however, if these features are to work as intended, it is important that, as users, we should familiarise ourselves with them. if you feel that you need to brush up your knowledge, i would encourage you to visit norge bank ’ s webpage newnotes. no, norge bank ’ s facebook page or order the banknote brochure from norges bank. you will still be able to use the old 50 - krone and 500 - krone banknotes for one year after the launch of the new banknotes, ie until 18 october 2019. so use your old banknotes when you are out shopping or take them to your bank well before the deadline to help make the withdrawal of the old banknotes as smooth and efficient as possible. good luck with the new banknotes! 2 / 2 bis central bankers'speeches

##ecd area. many are seeking new opportunities and work in the urban areas. low labour costs and more efficient transport and communication attract labour - intensive production. production of goods and services is being transferred from norway and other high - cost countries to amongst others the baltic countries, poland, china, india or other emerging economies. there are many examples showing that competition in selling highly skilled services is also intensifying. norwegians are offered myopia surgery in turkey. dental care and other medical services are also offered, at prices that are substantially lower than here. the norwegian oil and gas company norsk hydro reports that almost 300 000 hours of engineering services for the natural gas field ormen lange were supplied by indian engineers, located in india. the shift in the division of labour is now influencing real wage growth in industrialised countries. the risk that a business will have to wind up operations or move abroad is dampening costs as bargaining power is being transferred from workers to employers. in a number of european countries, wage growth is also being influenced by labour inflows from the new eu member states. increased trade has engendered higher demand for shipping services and favourable freight rates for a period. this has in turn led to a boom in the shipbuilding industry. at the same time, high energy prices are boosting investment in the petroleum and electricity sectors, with considerable impetus to the engineering industry. growth in asia is also having a favourable impact on many metal prices. norway ’ s terms of trade are improving. prices for our imported goods are falling in relation to prices for goods we export. the impact of the rise in oil and gas prices is particularly strong, but the terms - oftrade gains for the mainland economy have also been high. the situation in norway differs from that of its nordic neighbouring countries. sales of swedish and finnish high - tech products are growing strongly in volume terms, but prices are falling. denmark has a diversified business sector, which is overall moving on a steady path. strong development in the petroleum sector high oil prices have provided a strong impetus for the petroleum industry and have led to a strong increase in activity on the norwegian continental shelf. many projects have been launched to increase recovery from fields in operation, and investment in the petroleum sector has increased sharply. the large development projects relating to the natural gas fields snøhvit outside of hammerfest and ormen lange at aukra have made a large contribution to the high level of investment. both these projects also involve considerable