Daily Management Review

UK agrees with Norway and Iceland on post-Brexit trade


The UK has entered into an agreement with Norway and Iceland on trade relations after Brexit.

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The relevant document was signed on Tuesday in London, according to a statement by the British Department of International Trade.

"The agreement covers trade in goods and guarantees that 95% of trade with Norway and over 90% with Iceland will remain tariff free, giving companies confidence that they will be able to continue to operate under the same conditions as today, after the transition period (under Brexit) ends," the ministry said.

The Ministry also stressed that the agreement signed with Norway and Iceland is temporary and will remain in force until Britain concludes a comprehensive agreement with the countries of the European Economic Area and the European Free Trade Association in 2021.

Trade between the UK and Iceland, Norway, amounted to 27 billion pounds sterling, of which over 20 billion are goods.

source: bbc.com