Chamber welcomes Nordic trade agreements
The UK has struck a trade deal in principle with the Nordic countries of Norway and Iceland, and the Alpine principality of Liechtenstein.
The government said that the deal would slash tariffs on high-quality British food and farm products.
The agreement will cut 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 will also be tariff reductions and quotas on pork, poultry and other goods. UK wines and spirits, including Scotch whisky, will also now be recognised in Norway and Iceland.
Reduced import tariffs on shrimps, prawns and haddock will cut costs for UK fish processing, helping support some 18,000 jobs in Scotland, East Yorkshire and Northern Lincolnshire.
The deal is also the first time these three countries have included dedicated chapters on digital trade, and will mean that when British firms export to them, electronic documents, contracts and signatures will be used, to allow goods to move seamlessly across borders, saving businesses time and money.
International Trade Secretary Liz Truss said: “The 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 said: “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.
“More trade and more investment will drive growth and support jobs in every corner of our country. ”
The agreement means British businesses will be able to bid for government contracts in partner countries, worth an estimated £200 million a year.
The deal will allow caps on the charges mobile operators are allowed to charge each other for international mobile roaming - a world-first in a free trade agreement - keeping costs low for holidaymakers and business travellers.
It will also enable high-skilled professionals to enter Norway, Iceland and Liechtenstein for business purposes, using faster and simpler visa processes.
There will be professional qualification recognition, so nurses, lawyers, vets and other professionals will have a clear route to apply to have their qualification recognised to work in the partner countries.
The deal has been welcomed by the Chamber, and international director Mandy Haque (pictured) said: “I am pleased to see that UK government has negotiated a trade deal with Norway, Iceland and Liechtenstein and this will be good news for sectors where there is a focus in those countries, however there are still many key overseas markets where a deal needs to be struck.
“There are a variety of consultations in progress at the moment with opportunities for businesses to help shape future trade deals and government are asking businesses for their input. Details for these can be found on gov.uk ”