UK signs trade deal with Norway, Iceland and Liechtenstein

Britain’s government said it signed a free trade deal with Norway, Iceland and Liechtenstein on Thursday, its latest post-Brexit trade agreement. The signing of the deal on Thursday followed an agreement in principle reached last month by the four countries.

The deal would help sectors including digital, financial and professional business services and cut tariffs for British exports, boosting a trading relationship worth £21.6 billion last year, the trade ministry said in a statement. 

“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,” UK’s International Trade Minister Ranil Jayawardena said.

The UK is Norway’s top trading partner outside the EU, and in terms of their overall trade volumes, this deal is more significant for Norway and Iceland than it is for the UK. 

At the same time, as London is no longer part of the European Common Fisheries Policy, it must deal directly with Oslo and British fishing fleets are keen to have access to the country’s sub-Arctic seas.