0

Uk Trade Agreement With Norway

Norway`s Ministry of Trade and Industry reached an interim trade continuity agreement with the UK and Iceland on Tuesday, effective January 1, pending the entry into force of a comprehensive free trade agreement. “We agreed to put in place a temporary regime. That`s good news. We are now in close talks with the UK to adapt the agreement, which means we can continue to avoid tariffs on industrial products. However, it is important for businesses to be aware that this agreement is both broad and time-limited,” said Iselin Nyb√©, Minister of Trade and Industry. The fixed-term agreement will be based on the agreement signed in April 2019 by Norway and the UNITED Kingdom, which guarantees continuity of trade in the event of the UK leaving the EU without a deal. The biggest change for British nationals working in Norway is probably that as third country nationals, they will be subject to stricter requirements to obtain a residence permit to work. If there were no requirements for the worker`s competence, the suitability of his training or the minimum wage requirements in the immigration regulations, under the EU/EEA immigration regime. However, if they are considered third-country nationals, they must prove that they are “skilled workers”, that their training is relevant to the position offered to you in Norway and that they are paid in accordance with the minimum wage requirements.

This will make it more difficult for unskilled workers to obtain a work permit. An agreement was signed today (Tuesday 8 December) in London to close merchandise trade between the UK and Iceland and Norway. Norway and the United Kingdom have agreed to conclude a temporary agreement on trade in goods, which will come into force on 1 January. The agreement will be maintained until a free trade agreement comes into force a few months later. The UK officially left the European Union on 31 January, but is in a transition phase sometime in 2020. New trade agreements, including with the EU and the US, were expected to be signed before the end of the year. Brexit does not affect employees of a company in an EU or EEA country other than the UK. This means that from 1 January 2021, they will be allowed to stay for up to three months without a residence permit application. They are also allowed to stay for more than three months as long as the work is carried out in the context of providing a service in accordance with the EU/EEA agreement or the work required to set up a business in Norway. If the UK leaves the EU without a deal on 31 December, it will affect trade in goods for Norway.

There are still some aspects of merchandise trade that have not yet been fully clarified. Below, we briefly outlined some effects on the trade in goods that are known. The Ministry of Foreign Affairs and the Ministry of Trade and Fisheries indicated that a free trade agreement could not completely replace the EEA agreement. Industry must prepare for new trade barriers when the UK leaves the EU and the internal market. Norway and the United Kingdom have agreed to conclude a temporary agreement on trade in goods from 1 January 2021, pending the entry into force of a free trade agreement. The new free trade agreement is expected to be concluded a few months later in 2021. The agreement builds on the free trade agreement signed by Norway and the United Kingdom in April 2019, which provides for a continuous duty-free exemption for industrial products. The new temporary agreement will be implemented when the UK leaves the EU without a deal.

In the temporary free trade agreement, we are informed that the scope of goods is identical to that of the EEA agreement.

Uncategorized