The UK’s free trade deal will boost critical sectors like digital, financial, and professional business services, slash tariffs and support jobs.
It is the most advanced trade deal that Norway, Iceland and Liechtenstein have ever signed, with gold standard provisions in digital trade, mobile roaming, and business travel, the government said in a statement on July 8.
It will also 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, while offering tariff reductions and quotas on pork, poultry and other goods
The fish processing sector, retail and consumers will also benefit from cheaper imports of prawns, shrimp and white fish.
“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,” said International Trade Secretary Liz Truss.
“I urge businesses across the country, from farmers to fintech, to seize the fantastic opportunities this deal presents,” she added.
International Trade Minister Ranil Jayawardena said the deal “banished barriers”.
“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,” he said.
“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,” he added.
Under the deal it will be possible to cap the charges mobile operators are allowed to charge each other for international mobile roaming, a world-first in a free trade deal, keeping costs low for holiday makers and business travellers in Norway and Iceland.
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