The United Kingdom announced, Friday, June 4, a post-Brexit trade agreement with Norway, Iceland and Liechtenstein covering 21.6 billion pounds of trade (25.2 billion euros). UK Trade Secretary Liz Truss said he was going to lead “A major development of our business” with the countries concerned.
The deal goes ‘Boosting important sectors like digital, lowering tariffs on high quality UK food and agricultural products and supporting jobs across the country’, welcomes the ministry in a press release. According to him, British companies will be able to export to these countries without “Complete no form” paper and all necessary documents can be completed and transmitted electronically.
277% reduction in customs duties on cheddar cheese
The agreement, most of which covers trade with Norway, notably envisages a reduction of up to 277% in customs duties for exporters to Norway of certain cheddar cheeses. It also includes rate reductions for pork, poultry, certain fish and shellfish and “Helps to preserve 18,000 jobs” in fish farming. “The agreement in principle reached today is the first for these three European countries to include sections devoted to digital trade and small businesses”, underlines the statement of the British government.
Norway welcomed the same. “The government has negotiated a broad and ambitious free trade agreement with the United Kingdom”, Norwegian Prime Minister Erna Solberg announced during the presentation of the agreement in Oslo. “Export-oriented companies will continue to have access to Norway’s largest export market, outside the European Union”, she continued. If he is not, according to her, “As satisfactory as the EEA agreement”, i.e. the area comprising the European Union as well as Iceland, Norway and Liechtenstein, it is “The largest free trade agreement we have ever concluded”, she stressed.