UK strikes post-Brexit trade deal with Norway

LONDON: Britain on Friday announced a post-Brexit free trade deal focused predominantly on major fishing neighbour Norway that will slash tariffs on British food products exported also to Iceland and Liechtenstein.

International Trade Secretary Liz Truss said the deal, agreed in principle, builds on “an economic relationship already worth £21.6 billion ($30 billion, 25 billion euros), while supporting jobs and prosperity” across the UK.

The figure for 2020 overwhelmingly involved non-EU member Norway at £20.4 billion worth of trade between the two countries that are separated by the North Sea and key fishing spots. Exports to the three countries can be done using digital documents, contracts and signatures, the Department for International Trade said.

And it said the agreement significantly cuts tariffs as high as 277 per cent for exporters to Norway of West Country Farmhouse Cheddar, Orkney Scottish Island Cheddar, Traditional Welsh Caerphilly, and Yorkshire Wensleydale cheese.

There are also tariff reductions and quotas on pork, poultry and other goods, and UK wines and spirits including Scotch Whisky will also now be recognised in Norway and Iceland. While import tariffs on shrimps, prawns and haddock will be reduced, pushing down costs for UK fish processing and helping support some 18,000 jobs in that industry in Scotland, East Yorkshire and Northern Lincolnshire.

Truss said: “Today’s deal will be a major boost for our trade with Norway, Iceland and Liechtenstein, growing an economic relationship already worth £21.6 billion, while supporting jobs and prosperity in all four nations at home.”

International trade minister Ranil Jayawardena added: “This deal shows that the United Kingdom will continue to be a trade partner of choice, as we set the global trade agenda in areas like e-commerce and climate change.”

The department said the deal also means British businesses can bid for more government contracts in partner countries worth some £200 million a year, and will allow caps on roaming charges and simpler visa processes for high-skilled professionals.

There is also an agreement where nurses, lawyers, vets and other professionals will be able to move to the three countries without having to requalify.

The department said the deal will allow caps on the charges mobile operators are allowed to charge each other for international mobile roaming, a world-first in an FTA, keeping costs low for holiday makers and business travellers.

The announcement comes as talks this week began on Britain joining the vast trans-Pacific trade pact. Britain applied in February to join the 11-nation deal, signed in 2018 by countries including Japan, Canada, Mexico, Vietnam and Australia.