UK trade deal with Norway, Iceland and Liechtenstein comes into effect

The UK’s new trade arrangements with Norway, Iceland and Liechtenstein come into effect today.

It follows a joint deal signed in July with Norway, Iceland and Liechtenstein, and will bring the UK and Norway closer than ever before, creating a new services and investment relationship with lower tariffs and exclusive duty-free quotas for UK exporters.

The government says the deal’s “cutting-edge digital provisions” mean British firms exporting to Norway can now benefit from a limit on unnecessary paperwork. Electronic documents, contracts and signatures mean goods can move “seamlessly” across borders, saving exporters both time and money.

British firms looking to set up or expand operations in Norway can also now transfer staff and their families for four years.

Norway has stripped back residency requirements for senior management and directors, meaning more UK talent can sit on Norwegian company boards without having to relocate. Business travellers can also enjoy more streamlined and straight-forward visa processes.

The government says the deal also provides assurance to the UK’s booming FinTech industry, enabling innovative FinTech firms to provide new services in Norway, without providing them elsewhere beforehand.

Underlining both countries high ambition on climate change, the deal explicitly reaffirms Norway and the UK’s commitments to reaching net zero. The deal creates further opportunities for investment and job creation in the UK’s green economy, including in renewables, green shipping and electric vehicles.

Secretary of State for International Trade, Anne-Marie Trevelyan said:
“The UK and Norway are already close trading partners and there is a strong appetite for British goods and services from our Norwegian neighbours.

“This deal will support businesses in all sectors across the country, from the fishing trade in Scotland and Grimsby, to innovative FinTech companies in our biggest cities. The ambitious, forward-looking provisions in this deal show exactly what we can achieve as an independent, deal-making nation and will help level up opportunities throughout the United Kingdom.”