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Following the agreement in principle last month (see news item), the UK has signed the Free Trade Agreement (FTA) with Norway, Iceland and Liechtenstein on 8 July 2021.
The trade deal will boost British sectors such as digital, cut tariffs on British food and farm products and support jobs in the country. The FTA also supports the UK’s ambitions on climate and environmental protection and preserves the UK’s right to regulate to reach the Net Zero target, promotes trade and investment to grow the low carbon economy, and addresses issues related to environmental protection, including biodiversity, forestry and sustainable fisheries. In addition, the cutting-edge digital provisions mean it will make it easier for businesses to export across borders, as electronic documents, contracts and signatures will result in less paperwork, saving British firms time and money.
More information can be found on the UK Government website.