British businesses will be able to trade freely with Iceland and Norway if the UK leaves the European Union without a deal under a new agreement announced by Liam Fox.
The International Trade Secretary said the agreement, which is subject to final checks before it is expected to be signed next week, was a “major milestone” in the Brexit preparations.
It will replicate the existing European Economic Area agreement (EEA) as far as possible, the Department for International Trade said.
Dr Fox said: “We have just reached agreement with Iceland and Norway to ensure continued access for British businesses to the European Economic Area should we leave the EU without a deal.
“This is one of the largest trade agreements we are party to as a result of our membership of the EU.
“Combined with the agreement we have already signed with Liechtenstein and Switzerland, it accounts for close to half of the trade we’re seeking continuity for.
“This is good news for British businesses and a major milestone in getting the UK ready for Brexit, no matter the terms of our withdrawal.
“I expect to formally sign this agreement shortly and others to follow soon after.”
Why are you making commenting on The National only available to subscribers?
We know there are thousands of National readers who want to debate, argue and go back and forth in the comments section of our stories. We’ve got the most informed readers in Scotland, asking each other the big questions about the future of our country.
Unfortunately, though, these important debates are being spoiled by a vocal minority of trolls who aren’t really interested in the issues, try to derail the conversations, register under fake names, and post vile abuse.
So that’s why we’ve decided to make the ability to comment only available to our paying subscribers. That way, all the trolls who post abuse on our website will have to pay if they want to join the debate – and risk a permanent ban from the account that they subscribe with.
The conversation will go back to what it should be about – people who care passionately about the issues, but disagree constructively on what we should do about them. Let’s get that debate started!
Callum Baird, Editor of The National
Comments: Our rules
We want our comments to be a lively and valuable part of our community - a place where readers can debate and engage with the most important local issues. The ability to comment on our stories is a privilege, not a right, however, and that privilege may be withdrawn if it is abused or misused.
Please report any comments that break our rules.
Read the rules here