UK food to benefit in post-Brexit Norway trade agreement

By Gwen Ridler

- Last updated on GMT

The UK has agreed a trade deal with Norway, Iceland and Liechtenstein
The UK has agreed a trade deal with Norway, Iceland and Liechtenstein

Related tags Brexit

UK cheese, meat and whisky producers are set to benefit from a new trade deal agreed with Norway, Iceland and Liechtenstein worth £21.6bn, according to trade secretary Liz Truss.

Agreed in principle last week, the deal would see tariffs cut on a number of food and drink products exported to the three countries.

The agreement significantly cuts tariffs as high as 277% for exporters to Norway of West Country Farmhouse Cheddar, Orkney Scottish Island Cheddar, Traditional Welsh Caerphilly, and Yorkshire Wensleydale cheese.

Pork and poultry

There are also 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.

Tariffs on shrimps, prawns and haddock will also be cut, promising reduced costs for UK fish processing and supporting more than 18,000 jobs across Scotland, East Yorkshire and Northern Lincolnshire.

International Trade Secretary Liz Truss said: “Today’s deal will be a major boost for our trade with Norway, Iceland and Liechtenstein, growing an economic relationship already worth £21.6bn, while supporting jobs and prosperity in all four nations at home.”

Wide ranging agreement

The agreement covers the full range of trade between the four countries, including goods, services and investment, digital trade, capital movements, good regulatory practices and regulatory cooperation and recognition of professional qualifications. A more extensive list can be found in the box below.

Iceland minister of foreign affairs and international trade Guðlaugur Þór Þórðarson said: “A free trade agreement with the UK has been a priority during my term in office and it will be crucial for both businesses and consumers.

“I have stressed the importance of ensuring a strong future relationship with the UK following its departure from the EU and I am convinced that this agreement will strengthen the economic relations and the bonds of friendship between Iceland and the UK for years to come.”

Meanwhile, the UK’s proposed trade deal with Australia could cut – though not necessarily scrap – tariffs on Scotch whisky exports to the country,​supporting thousands of jobs in the Scottish drinks industry, according to the Government.

Areas of trade coved by the FTA

Full range of trade in goods, services and investment, digital trade, capital movements, government procurement, intellectual property, competition, subsidies, small and medium sized enterprises, good regulatory practices and regulatory cooperation, recognition of professional qualifications, trade and sustainable development.

It also encompasses legal and horizontal issues including dispute settlement.

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1 comment

Ross Murray

Posted by Ross Murray,

It appears to me that the "benefit" for the UK of this new deal is compared to the current situation, not compared to the pre-Brexit situation. Is that right? If so, then this article should identify what was lost when the Brexit transition ended and is not now coming back.

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