The UK has formally signed a combined free trade agreement (FTA) with Norway, Iceland and Liechtenstein, supporting trade relationships worth a total of £21.6 billion a year.
It was signed in London and followed an agreement in principle confirmed last month that will cut tariffs on key exports and promote the use of digital tools to allow goods to move seamlessly across international borders.
The UK government described the agreement as the “most advanced trade deal that Norway, Iceland and Liechtenstein have ever signed”, highlighting “gold standards” on issues such as digital services, mobile roaming and business travel in addition to its trade benefits.
Among its provisions will be continued quota-free access for British exports and the removal of tariffs of up to 277 percent on products such as cheese and seafood. The FTA also recognises the protected status of certain UK wines and spirits, such as Scotch whisky.
Source MIC
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