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The agreement follows a string of deals already signed by the UK including with Japan and the Ukraine. Meanwhile, trade talks with America are set to “intensify” ahead of the US election. The Norwegian industry ministry confirmed a temporary deal has been signed to maintain the trade of goods if the UK leaves the EU without an agreement on December 31.
The ministry added negotiations for a formal comprehensive free trade deal remained ongoing.
In a statement, the ministry said: “Norway and Britain realise it is unrealistic to have a deal in place by January 1 and so have put in place a temporary agreement for goods.”
The latest agreement comes just weeks after the UK and Norway agreed an historic deal on fishing.
A bilateral agreement has been struck to exchange quotas and enable access to each other’s rich fishing waters.
Earlier this month, Boris Johnson signed a Strategic Partnership Agreement with the Ukraine.
The Prime Minster welcomed Ukrainian President Volodymyr Zelenskiy to Downing Street and finalised an agreement, which includes a free trade deal on goods, services, tariffs and quotas.
Mr Johnson said: “The Strategic Partnership Agreement we are signing today signals the next chapter in our relationship.
“It’s a chapter that will bring increased security and prosperity for both the people of the UK and Ukraine.”
Britain signed its first post-Brexit deal with Japan on September 11.
The historic partnership with the world’s third largest economy is estimated to be worth £15.2billion.
The Department for International Trade says the agreement will ensure tariff-free trade on 99 percent of exports to Japan.
It is also expected to deliver a £1.5billion boost to the UK economy and increase UK workers’ wages by £800million in the long run.
Upon signing the deal, International Trade Secretary Liz Truss said: “This is a historic moment for the UK and Japan as our first major post-Brexit trade deal.
“The agreement we have negotiated – in record time and in challenging circumstances – goes far beyond the existing EU deal, as it secures new wins for British businesses in our great manufacturing, food and drink, and tech industries.”
Speaking to the Commons earlier this month, Ms Truss confirmed “good progress” is being made in trade talks with the US, which will temporarily pause on October 30 for the US election four days later.
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Meanwhile, Downing Street has this afternoon confirmed Brexit talks between negotiators David Frost and Michel Barnier will resume this week.
Talks between the two sides had stalled following a stalemate at the end of the EU Council Summit in Brussels.
Outstanding issues such as fisheries and state aid remain ahead of the official deadline of the transition period at the end of the year.
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