The deal was signed in London yesterday by ministers from the UK, Norway, Iceland and Liechtenstein. Ministers from the three countries came to London on Thursday (8 July) to sign the agreement with United Kingdom Minister for International Trade Ranil Jayawardena. It is the most advanced trade deal that Norway, Iceland and Liechtenstein have ever signed.
The deal will boost sectors such as digital, financial and professional businesses services. Businesses will be able to save time and money, as goods can move seamlessly across international borders.
The deal will slash tariffs and offer new duty-free quotas on exports of high-quality British food and farm products. The agreement maintains existing access to duty-free quotas for key British exports like cheese. The deal also offers tariff reductions and quotas on pork, poultry and other goods. The agreement recognises the protected status of certain United Kingdom wines and spirits.
The agreement preserves the UK’s right to regulate to reach our Net Zero target, while also promoting trade and investment in the expanding low carbon economy.
The deal also makes it easier for businesses to export across borders such as electronic documents, contracts and signatures.
Under the deal, it will be possible to cap the charges mobile operators are allowed to charge each other for international mobile roaming.
The deal allows high-skilled professionals to enter Norway, Iceland and Liechtenstein for business purposes, ensures that visas are processed within a maximum of 90 days and includes professional qualification recognition – so nurses, lawyers, vets and other professionals will have a clear route to apply to have their qualification recognised to work in the partner countries.
International Trade Secretary Liz Truss said:
‘Today’s deal signing is a landmark moment for trade between the UK, Iceland, Norway and Liechtenstein. It will support jobs, cut red tape, and open up more opportunities for the UK.
‘I urge businesses across the country, from farmers to fintech, to seize the fantastic opportunities this deal presents.’
International Trade Minister Ranil Jayawardena said:
‘Norway, Iceland and Liechtenstein have gone further with us than any other FTA partner, including new cutting-edge digital provisions to enable slicker trade across our borders.
‘I look forward to seeing businesses in every corner of the United Kingdom take advantage of streamlined trade, banished barriers and policy that backs jobs and growth.’