UK enters trade deal with Norway, Liechtenstein & Iceland, strikes leeway around post-Brexit border bureaucracy

 International Trade Secretary, Liz Truss has accomplished trade deal between UK and Norway, Iceland and Liechtenstein. The deal would enable use of digital paperwork to effectively cut down time and cost around cross border post-Brexit trade bureaucracy. The comprehensive deal was achieved following months long talks and being lauded by British and Norwegian governments as ground breaking and pioneer in establishing tariff free trade in industrial goods sector.

Under the deal, British companies can export to Iceland and Norway through electronic documentation to ease out strenuous customs procedures that are required post-Brexit. Truss noted that already strong economic partnership between nations, that is worth £21.6bn, would be further bolstered along with “supporting jobs and prosperity in all four nations at home”.

According to the new trade deal, Norway has reduced duties across 26 sectors of agriculture, which includes allowing a quantity of West Country farmhouse cheddar, Orkney Scottish Island cheddar, traditional Welsh caerphilly, and Yorkshire wensleydale cheese to avoid full 277% export tariffs. But the total quota of UK cheese which can be sold in Norway free of tariff has not increased.

The deal also allows highly skilled professionals from UK to enter Iceland, Norway and Liechtenstein for business reasons. It includes recognition of professional qualification ensuring skilled professionals like nurses, lawyers and others are not required to obtain re-qualification in order to work in these nations.

Norwegian government celebrated that under the new trade deal there will be zero duty on frozen peeled shrimp, which is a key export, effective from 1 January 2023. Odd Emil Ingebrigtsen, Norway’s fisheries minister said, “The agreement entails a continuation of all previous tariff preferences for seafood and improved market access for whitefish, shrimp and several other products. For the shrimp industry on Senja and the land industry in northern Norway, this will be of great importance.”

Erna Solberg, Norway’s prime minister celebrated striking a deal with UK, which is second largest trade partner after EU. But she noted that its inevitable for the trade to be “more bureaucratic and less dynamic” than pre-Brexit dealings.

Related Posts

EU Reporter

As vast is the European region, the more diverse are the developments and news that are to be known. I bring to table the news and political affairs from region to your screens.

Recent Posts

Trump vs. Panama: President Mulino Responds to US Threats Over Canal Control

Jose Raul Mulino the President of Panama strongly rejected U.S. President-elect Donald Trump's comments about taking back control of the… Read More

December 23, 2024

Louise Delos Reyes Says ‘Yes’! Actress Reveals Stunning Engagement in London

Louise Delos Reyes is officially engaged! The actress-turned-pastry chef said "yes" to her longtime boyfriend, Jino Brion during a dreamy… Read More

December 23, 2024

Can Ukraine Join NATO? Zelenskiy Pushes for Global Stability Through Alliance

Ukrainian President Volodymyr Zelenskiy said that membership of Ukraine in NATO is "achievable" goal but this will require persistent effort… Read More

December 22, 2024

UAE-Funded Orphanage Opens in Ethiopia, Transforming Lives in Oromia

Ethiopian Prime Minister Dr. Abiy Ahmed recently inaugurated a state-of-the-art orphanage in Oromia. This orphanage is built with the support… Read More

December 21, 2024

Russia-Ukraine Conflict: Drone Strikes Cause Disruptions in Kazan, No Casualties

The airport in the Russian city of Kazan reopened on Saturday. This airport reopened on Saturday after a temporary closure… Read More

December 21, 2024

George Eastham, England’s 1966 World Cup Winner, Passes Away at 88

England's 1966 World Cup Winner, George Eastham has passed on aged 88 years. Blackpool-born forward, who played 19 times for… Read More

December 21, 2024

This website uses cookies.

Read More