Welcome   Sponsored By
Subscribe | Register | Advertise | Newsletter | About us | Contact us

Image: Terje Engo

The business community can now implement the free trade agreement with the United Kingdom

Click on the flag for more information about United Kingdom UNITED KINGDOM
Thursday, December 02, 2021, 07:00 (GMT + 9)

From today, the business community can implement the free trade agreement between Norway and the United Kingdom. This contributes to trade, value chains and competitiveness continuing after Brexit.

This summer, Norway agreed with the United Kingdom on the most comprehensive free trade agreement ever, with the exception of the EEA agreement. The agreement can now be implemented.

"This is good and long-awaited news for Norwegian companies and workplaces. The conditions are now in place for trade with one of our most important trading partners to continue to grow",
says Minister of Trade and Industry Jan Christian Vestre.

Historically important agreement for Norwegian business and industry

The United Kingdom is Norway's second most important single market, after the EU. In 2020 alone, Norwegian companies exported goods worth almost NOK 135 billion (around U$D 15 billon) to the United Kingdom, while imports amounted to about NOK 42 billion (around U$D 4,6 billion).

"Trade, investment and business cooperation with the United Kingdom contribute to increased value creation, employment and innovation in Norway",
says the Minister of Trade and Industry.

Norwegian industrial companies will continue to be exempt from customs duties, so that Norwegian exporters do not face more cumbersome customs procedures in the UK than competitors from the EU. It will also be easier to get customs exemption when exporting to the UK.

"Even though the agreement does not replace the important connection we had through the EEA agreement, it ensures Norwegian companies at least as good access to the British market as the EU countries. This is crucial for Norwegian business and industry to be competitive in the world",
says Vestre.

From left: Liz Truss, UK’s International Trade Secretary, Ranil Jayawardena, UK's International Trade Minister, Guðlaugur Þór Þórðarson, Iceland's Foreign Minister, Dominique Hasler, Liechtenstein's Foreign Minister, Iselin Nybø, Norway’s Minister of Trade and Industry.

The free trade agreement also contributes to predictability for Norwegian investors and service providers. Among other things, the agreement allows Norwegian companies to establish and sell services in the United Kingdom under predictable framework conditions, and facilitates British companies to continue their operations in Norway.

Customs preferences for important seafood products

The free trade agreement ensures the continuation of all tariff preferences for seafood that Norway had while the United Kingdom was a member of the EU. In addition, the agreement entails improvements for certain, important products, such as duty-free treatment for frozen peeled shrimp from 2023.

"We now ensure the necessary predictability in the trade in seafood to one of our most important export markets. The agreement contributes, among other things, to the computer industry and the whitefish industry getting competitive tariff conditions to the United Kingdom. Thus, the agreement contributes to value creation and jobs in the Norwegian seafood industry"
says Minister of Fisheries and Marine Affairs Bjørnar Skjæran.

The agreement also forms a framework for further cooperation between Norway and the United Kingdom in the veterinary field, which includes trade in food, feed and live animals. The agreement means that effective border control is planned to ensure that goods enter the market quickly. There is also agreement that Norwegian exports will have the same good conditions as exports from the EU.

Background on the free trade agreement

  •     In June, the EEA / EFTA countries Iceland, Liechtenstein and Norway agreed with the United Kingdom on a free trade agreement. Negotiations began in August 2020 and ended in June 2021.
  •     Norway has been a spokesperson for Norway, Iceland and Liechtenstein. Ongoing negotiation meetings have been held, both at expert and negotiation leader level, as well as political meetings.
  •     The free trade agreement is broader than Norway's other free trade agreements through EFTA cooperation. It contains, among other things, separate chapters on small and medium-sized companies, professional certification and digital commerce.
  •     The agreement entails several important improvements for products, such as frozen peeled shrimp. This can be exported with reduced tariffs to the UK from today, 1 December, and duty-free from 1 January 2023. The agreement also provides zero tariffs or access to duty-free import quotas for frozen whitefish fillets. Thus, almost all exports of whitefish to the United Kingdom will be duty free.
  •     Although the agreement will provide more predictable framework conditions for Norwegian investors, exporters and service providers, it cannot be compared with the EEA agreement. Before Brexit, Norway had free movement of goods, services, capital and people into the United Kingdom through the EEA agreement. A free trade agreement will not provide equivalent access to the UK market.
  •     The free trade agreement with the United Kingdom will be temporarily partially applied between Norway and the United Kingdom from 1 December 2021. The reason why there is no ordinary entry into force is that the United Kingdom has not implemented the necessary national regulations for public procurement. The agreement's chapter on public procurement will therefore not be used temporarily. The UK is expected to be on target for public procurement in March 2022, and the agreement will then come into force in the ordinary way.

Background on trade with the United Kingdom

  •     The United Kingdom is the country in the world to which Norway exports the most. In 2020, Norwegian companies exported goods worth almost NOK 135 billion to the United Kingdom, corresponding to 22 per cent of all Norwegian exports, while imports amounted to almost NOK 42 billion.
  •     Oil and gas, metals and seafood make up the largest share of Norwegian exports to the United Kingdom.
  •     In addition, Norway sells services to the British annually for almost NOK 40 billion. The United Kingdom is among the largest and most important single markets for Norwegian shipping services, engineering services and financial services.
  •     The United Kingdom is also one of the largest single markets for Norwegian direct investment.
  •     According to the latest available figures, from 2018, Norway imported goods and services worth NOK 85 billion. Industrial machinery, cars and medicines make up a significant proportion of imports.

Source: Kystmagazinet (translated from original in norwegain)



Click to know how to advertise in FIS
Jan 20, 07:20 (GMT + 9):
Aerolineas Argentinas export Chilean salmon to Miami
Jan 20, 07:00 (GMT + 9):
Tuna catch in the Eastern Pacific Ocean increased during 2021
Costa Rica
Jan 20, 07:00 (GMT + 9):
Costa Rica establishes regulations for tuna fishing capacity recognized by the IATTC
Jan 20, 07:00 (GMT + 9):
British Columbia fishers celebrate DFO announcement allowing spot prawn 'tubbing' to continue
Jan 20, 07:00 (GMT + 9):
Philippines to import 60,000 metric tons of small pelagic fish
Jan 20, 00:40 (GMT + 9):
Fish Pool Salmon Price Status Report for week 3
Jan 20, 00:40 (GMT + 9):
Statistics │ Import │Frozen mackerel, IQ fillet, processed products │ 2020-2021
Jan 20, 00:40 (GMT + 9):
Statistics │ Import │Mackerel │ by country │ 2020-21
Jan 20, 00:30 (GMT + 9):
Statistics │ Stocks │ Frozen bluefin tuna │ 2020-21
Jan 20, 00:20 (GMT + 9):
Other Media | FishFocus: Bluen action making a global impact by supporting local ocean protection
Jan 20, 00:10 (GMT + 9):
Stocks │ US surimi in Japan-Korea-China warehouse │ 2020-21
United States
Jan 20, 00:10 (GMT + 9):
Statistics │ Export │ Frozen surimi │ NMSF │ Jan-Nov 2020-21
Jan 20, 00:00 (GMT + 9):
Other Media | Aqua: Industrial Fishing advances in its commitment to 'zero waste to the sea'
Jan 20, 00:00 (GMT + 9):
Other Media | Industrias Pesqueras: OCU highlights the MSC seal among the list of reliable ecolabels
Russian Federation
Jan 20, 00:00 (GMT + 9):
Other Media | FiskerForum: New director takes charge at Russian Fishery Company

Representatives of the Surface Longline warns of losses of more than two million euros due to the government's lack of coordination
Spain • The lack of interministerial coordination and the lack of responses generate insecurity, defenselessness and serious economic losses for the surface longline fleet as a whole. Vigo, Mar&iacu...
The highest quality cod in the world is back in season
Norway Skrei, as Norway’s migratory cod is known, has reached the shores of Northern Norway after its epic 1,000km journey from the depths of the icy Barents Sea. This journey is what gives these cod t...
The first auction celebrated side by side with the bagged Nagaramo
Japan Nagaramo harvested approximately 1 km offshore from the Ozakai fishing port and brought to the fishing port dock The harvest season for the winter flavor "Nagaramo", which is a seaweed that gro...
The accident leaves the shipowner with the highest towing quota in the entire Northwest without a boat
Spain The Serenín of Celeiro has the largest individual rights for mackerel and other species. For two years the owner can rent or sell them There were no human losses in the shipwreck of the Sere...

Maruha Nichiro Corporation
Nichirei Corporation - Headquarters
Pesquera El Golfo S.A.
Ventisqueros - Productos del Mar Ventisqueros S.A
Wärtsilä Corporation - Wartsila Group Headquarters
ITOCHU Corporation - Headquarters
BAADER - Nordischer Maschinenbau Rud. Baader GmbH+Co.KG (Head Office)
Inmarsat plc - Global Headquarters
Marks & Spencer
Tesco PLC (Supermarket) - Headquarters
Sea Harvest Corporation (PTY) Ltd. - Group Headquarters
I&J - Irvin & Johnson Holding Company (Pty) Ltd.
AquaChile S.A. - Group Headquarters
Pesquera San Jose S.A.
Nutreco N.V. - Head Office
CNFC China National Fisheries Corporation - Group Headquarters
W. van der Zwan & Zn. B.V.
SMMI - Sunderland Marine Mutual Insurance Co., Ltd. - Headquarters
Icicle Seafoods, Inc
Starkist Seafood Co. - Headquearters
Trident Seafoods Corp.
American Seafoods Group LLC - Head Office
Marel - Group Headquarters
SalMar ASA - Group Headquarters
Sajo Industries Co., Ltd
Hansung Enterprise Co.,Ltd.
BIM - Irish Sea Fisheries Board (An Bord Iascaigh Mhara)
CEFAS - Centre for Environment, Fisheries & Aquaculture Science
COPEINCA ASA - Corporacion Pesquera Inca S.A.C.
Chun Cheng Fishery Enterprise Pte Ltd.
VASEP - Vietnam Association of Seafood Exporters & Producers
Gomes da Costa
Furuno Electric Co., Ltd. (Headquarters)
NISSUI - Nippon Suisan Kaisha, Ltd. - Group Headquarters
FAO - Food and Agriculture Organization - Fisheries and Aquaculture Department (Headquarter)
Hagoromo Foods Co., Ltd.
Koden Electronics Co., Ltd. (Headquarters)
A.P. Møller - Maersk A/S - Headquarters
BVQI - Bureau Veritas Quality International (Head Office)
UPS - United Parcel Service, Inc. - Headquarters
Brim ehf (formerly HB Grandi Ltd) - Headquarters
Hamburg Süd Group - (Headquearters)
Armadora Pereira S.A. - Grupo Pereira Headquarters
Costa Meeresspezialitäten GmbH & Co. KG
NOAA - National Oceanic and Atmospheric Administration (Headquarters)
Mowi ASA (formerly Marine Harvest ASA) - Headquarters
Marubeni Europe Plc -UK-
Findus Ltd
Icom Inc. (Headquarter)
WWF Centroamerica
Oceana Group Limited
The David and Lucile Packard Foundation
Ajinomoto Co., Inc. - Headquarters
Friosur S.A. - Headquarters
Cargill, Incorporated - Global Headquarters
Benihana Inc.
Leardini Pescados Ltda
CJ Corporation  - Group Headquarters
Greenpeace International - The Netherlands | Headquarters
David Suzuki Foundation
Fisheries and Oceans Canada -Communications Branch-
Mitsui & Co.,Ltd - Headquarters
NOREBO Group (former Ocean Trawlers Group)
Natori Co., Ltd.
Carrefour Supermarket - Headquarters
FedEx Corporation - Headquarters
Cooke Inc. - Group Headquarters
AKBM - Aker BioMarine ASA
Seafood Choices Alliance -Headquarter-
Austevoll Seafood ASA
Walmart | Wal-Mart Stores, Inc. (Supermarket) - Headquarters
New Japan Radio Co.Ltd (JRC) -Head Office-
Gulfstream JSC
Marine Stewardship Council - MSC Worldwide Headquarters
Royal Dutch Shell plc (Headquarter)
Genki Sushi Co.,Ltd -Headquarter-
Iceland Pelagic ehf
AXA Assistance Argentina S.A.
Caterpillar Inc. - Headquarters
Tiger Brands Limited
National Geographic Society
AmazonFresh, LLC - AmazonFresh

Copyright 1995 - 2022 Seafood Media Group Ltd.| All Rights Reserved.   DISCLAIMER