UK: Post Brexit deal with Iceland & Norway!

UK signs last minute deals with Iceland and Norway.

In order to keep the fish trade to its current levels the UK has managed to sing preliminary deals with Iceland and Norway.

The agreement covers trade in goods, and ensures 95 per cent of goods trade with Norway and over 90 per cent with Iceland will remain tariff-free, providing businesses with certainty that they can continue to operate on the same terms as they do today when the transition period ends.

“Today we have secured continuity for businesses trading goods with Norway and Iceland, worth over £20bn last year,” Truss said.

“We’re looking forward to a more comprehensive FTA with Norway, Iceland and Liechtenstein that will come into force in 2021.”

“Over 30 per cent of the UK’s imports of fish fillets last year came from Iceland, many of which are used in British fish and chips shops.”

The post Brexit rollover agreement was signed on Tuesday and it will make sure that most of the trade in goods between these countries will remain tariff-free. The trade in goods between Britain and both Norway and Iceland was worth approx. 20 billion pounds last year.

Source credit: cityam.com