Norway, UK Agree On Contingency Trade Deal Starting January 1 - Industry Ministry

MURMANSK (Pakistan Point News / Sputnik - 21st October, 2020) Norway and the United Kingdom have agreed on a temporary post-Brexit trade deal starting January 1 in case a final one is not reached by then, the Norwegian Trade and Industry Ministry said on Wednesday.

"We have agreed on a temporary solution. This is good. At the moment, we continue active negotiations with the UK to finalize a trade agreement so that duties on manufactured goods can still be avoided," Norwegian Industry Minister Iselin Nybo said in a statement.

The contingency agreement is based on a deal sealed by Oslo and London in April 2019.

"It is important to create such conditions so that trade between the two countries from January 1 can continue on the same terms as today. At the same time, we intend to try to work out a permanent agreement as soon as possible," Norwegian Foreign Minister Ine Eriksen Soreide said.

The UK has been discussing trade deals with the European Union and non-EU nations, such as Norway, since Britain exited the bloc on January 31.