International Trade Council welcomes UK’s trade deal with Norway, Iceland, and Liechtenstein

The International Trade Council (ITC) welcomes the recent post-Brexit trade agreement between the UK, Norway, Iceland, and Liechtenstein, which will greatly benefit trade between the four non-EU nations, already valued at £21.6bn. The UK's international trade secretary, Liz Truss, said the deal would be "a major boost for our trade...while supporting jobs and prosperity in all four nations at home". The agreement also includes important elements on digital trade that go beyond what the EU has. Reduced import tariffs on shrimps, prawns, and haddock would cut costs for UK fish processing, supporting jobs in Scotland, East Yorkshire, and northern Lincolnshire. However, many Norwegian farmers have expressed concerns at opening up the domestic market to British beef and cheese. The International Trade Council looks forward to seeing the implementation of the agreement, which marks an important milestone in the UK's post-Brexit trading relations.