Changing demands on working places, caused by globalized economies, increases the need for multiculturalism and multilingualism. Business relations between Sweden and other Nordic and Baltic countries have a long history and the need for exchange is still increasing. For example, Iceland and Sweden haves strong bilateral relations since many years and many Swedish business companies are operated as franchise companies in Iceland. There is a similar situation in Finland and Latvia, where 800 and 700 Swedish business companies are established respectively. Sweden is the most important trade partner in Estonia as Sweden accounted for 14.1% of the total Estonian trade. This creates a vivid labor market in the need for workforce with adequate language skills for the modern business life in the Nordic-Baltic countries. According to the EU Language guide for European Businesses, companies that have adopted feasible language management strategies for foreign markets are, generally, more successful and achieve greater export sales growth. Therefore ViEDEX has developed, implemented and evaluated an e-learning module in Swedish language for business relations in higher education for partnership members in Nordic and Baltic countries. The e-learning module fills a gap in previous supply of courses offered in these countries and in accordance with The Higher Education Modernisation Agenda 2011 it provides labour force with adequate language skills for the modern business life. The need for Swedish language proficiency has been recognized in companies in the Nordic Baltic region, especially in Finland and ViEDEX aims at contributing to the professionalism in Swedish language use.Within the project future employees, who are able to interact in business with people from Nordic and Baltic countries, has been trained in using Swedish for communication. They have also been taught of the historical framework of Nordic and Baltic contacts and to recognize the similarities in business cultures. This has probably provided a competitive advantage for young people by their Swedish language proficiency, integrated them to a wider labour market, promoted free movement of labour in Northern Europe and thus diminished social marginalization and unemployment of young people. Providing a competitive advantage for enterprises, by increasing the use of Swedish in Nordic operating environment, entails advantage in sales as successful benefit from communication in the customer’s language. Awareness of differences in business cultures promotes business and creates new working places in the long run. Networks between participating teaching staff and enterprises is developed to share good ideas, practices and methods, develop professional skills needed in virtual, transnational cooperation and promote internationalization and linguistic diversity in the Nordic-Baltic parts of Europe. Virtual student exchange is enabled as well as flexible learning and students’ cross-border cooperation in a cost-effective way with special regard to students coming from the Baltic countries with less financial opportunities for travelling. Using modern technology, social media applications and offering the students an opportunity to improve their skills e.g. through the portal for learning Swedish and a learning game, has enabled increasing motivation in the students and also offered an opportunity for non-formal learning. By having Swedish in focus ViEDEX has promoted European linguistic diversity and a greater use of languages and language management strategies by companies in their international trade in regions where Swedish is studied. ViEDEX has developed guidelines for how to deal with communication problems in the Nordic and Baltic markets and supplied knowledge on communicational practices in companies trading with Sweden for the targeted group of participating students. The project has promoted the development of innovative educational practices and work methods and enabled integration of a greater variety of learning modes (virtual, modular and peer learning) into higher education by the transnational implementation. ViEDEX has further enabled learning in multicultural and multidisciplinary groups where students gains new perspectives on the topic studied in teaching conditions that are not available in a single institution. This supports the internationalization of learners with restricted financial means for travelling, brings them into contact with the language studied and fellow students in the same field of study and thus diminishes the inequality of student life. Within this project professional skills is linked to language studies and transnational cooperation between partners increasing language competences among learners from various fields of education, prepares them for working life and promotes free movement of labour and employability of young people.