International Trade Secretary Anne-Marie Trevelyan took to Twitter to announce the news, while also listing several key benefits the deal will provide for the UK. She wrote: \"Our ambitious free trade agreement with Norway kicks in today bringing a whole range of benefits. Enhanced digital trade to boost trade & cut red tape; reducing barriers to trade in Services, like FinTech; supporting jobs in key sectors across UK. Trade=growth=jobs.\"<\/p>\n
The Department for International Trade (DIT) said food producers, services companies and exporters to Norway will enjoy a pre-Christmas boost as the trading arrangements between the two countries come into effect.<\/p>\n
This follows a joint deal signed with Norway, Iceland and Liechtenstein signed in July.<\/p>\n
The Government department said the latest trade deal 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\".<\/p>\n
As a result, \"cutting-edge digital provisions\" means British firms exporting to the Scandinavian country \"can now benefit from a limit on unnecessary paperwork\".<\/p>\n
Electronic documents, contracts and signatures will see goods move seamlessly between countries, \"saving exporters both time and money\", while British companies looking to launch or set-up operations in Norway can now also transfer staff and their families for four years.<\/p>\n
Norway is one country to have reduced residency requirements for senior management and directors that could see increasing UK talent sit on Norwegian company boards without having to relocate.<\/p>\n
There will also be a more streamlined visa process for business travellers.<\/p>\n
The DIT said the deal with Norway underlines both countries \"high ambition\" on climate change, reaffirming their commitments to reach net zero.<\/p>\n
READ MORE:Brexit trade deal imminent: 'Great Xmas present' set to be signed off<\/p>\n
The multi-billion pound agreement with Norway will also enable fish feed exporters, many of them based in Scotland, to be able to take advantage of new opportunities to export tariff-free to Norway.<\/p>\n
Britain's fish processing industry accounted for around 18,000 jobs throughout the nation in 2020 - most of which are based in Scotland, East Yorkshire and Northern Lincolnshire.<\/p>\n
The DIT said a result of the Norway trade deal, the industry could reduce their costs thanks to zero tariffs on supply of certain fish and seafood, like prawns and white fish from Norway.<\/p>\n
This trade deal will also help the Government to deliver on its levelling up agenda by \"stimulating jobs and growth in the regions\" according to the department.<\/p>\n
Exporters to Norway of West Country Farmhouse Cheddar, Orkney Scottish Island Cheddar, Traditional Welsh Caerphilly, and Yorkshire Wensleydale cheese have also been boosted as they will enjoy \"significantly reduced tariffs\".<\/p>\n
A variety of UK produce, includingsausages, eggs, pork,poultry,strawberries, potatoes, wheatand carrots, will also see furtherimprovedaccess through tariff reductions and quotas. <\/p>\n
Sally Jones, EY Partner in Trade Strategy said: \"While the signing of a trade agreement is a positive step, what really matters for businesses is these agreements coming into effect.<\/p>\n
\"Only then can companies start to capitalise on the benefits and opportunities such trade agreements create.<\/p>\n
\"The UK and Norwegian business communities have deep and long-standing ties, which should help with a smooth transition and these ties will only grow stronger once this agreement comes into force.<\/p>\n
\"UK services providers should look forward to using the ambitious market access provisions in the agreement for services trade, business mobility, as well as recognising the increasing importance of digital trade.\"<\/p>\n
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Read the original:<\/p>\n
Brexit Britain in huge 21.6BN win as Norway deal comes in -Boost trade and cut red tape' - Daily Express<\/a><\/p>\n","protected":false},"excerpt":{"rendered":" International Trade Secretary Anne-Marie Trevelyan took to Twitter to announce the news, while also listing several key benefits the deal will provide for the UK. She wrote: \"Our ambitious free trade agreement with Norway kicks in today bringing a whole range of benefits. Enhanced digital trade to boost trade & cut red tape; reducing barriers to trade in Services, like FinTech; supporting jobs in key sectors across UK Continue reading