Britain has a trade agreement with Norway

The British government announced on Friday that it had concluded a free trade agreement after Brexit with Norway, which is one of the major fishing powers. The agreement will also reduce tariffs on British food products exported to Iceland and Liechtenstein. British Trade Secretary Liz Truss said the agreement covers about € 25 billion worth of trade while boosting jobs and prosperity in Britain. Norway is not a member of the EU and the two countries share the North Sea and key fishing grounds. It was precisely access to British fish-rich waters that has long been hampered by trade talks with the European Union (EU) after Brexit. "Reduced import duties on shrimp, prawns and cod will reduce costs and help boost some 18,000 jobs in the industry in Scotland," the statement said on Friday. The agreement also significantly reduces tariffs on British cheese exports to Norway. It also includes the reduction of tariffs and quotas on pork, poultry and other goods, as well as wines and spirits from the United Kingdom, including Scotch whiskey. Exports to the three non-EU countries (Norway, Iceland and Liechtenstein) will so far take place without the need for any paperwork. "All documents, contracts and signatures can be electronic, which allows the smooth movement of goods across borders and saves companies time and money," the statement continues. The announcement comes at a time when Britain has begun negotiations to join a comprehensive transpacific trade pact. In February, London applied to join the Comprehensive and Progressive Agreement for Trans-Pacific Partnership (CPTPP), which 11 Pacific states concluded in 2018. These include, for example, Japan, Canada, Mexico, Vietnam and Australia. Britain formally withdrew from the European Union in January 2020, almost five decades after membership, and left the single market and the bloc's union earlier this year. London is currently negotiating trade agreements with Australia and has held the first talks with India, New Zealand and the United States.