Norway has been a member of the WTO since its formation in 1995. The WTO has a separate agreement on goods subsidies called the Agreement on Subsidies and Countervailing Measures (ASCM). According to the ASCM, states and public bodies may not provide export-dependent financial contributions that confer an advantage on the recipient. Cheap export credits and export credit guarantees are explicitly mentioned in the list of prohibited subsidies, cf. annex 1, letters k and j. The ASCM also stipulates that export credits are permitted as long as they comply with the conditions of the OECD-affiliated agreement on publicly supported export credits (see below). If anyone believes a prohibited subsidy has been given, the issue may be addressed in the WTO’s dispute-resolution system.

See the ASCM (PDF) here