Norway`s merchandise trade with the EU has a deficit of 2.5 billion euros in 2019. Almost 60% of Norway`s exports are exported to the EU. Nevertheless, we must bear in mind that, for North Sea fishing, most stocks are currently managed cooperatively between Norway and the EU. That is why a fisheries agreement must be negotiated between Norway and the UK and the EU after Brexit. As a result, the EEA agreement provides for a high level of economic integration, common competition rules, state aid rules and public procurement. No no. Further measures would be needed, as Norway is not in the customs union. To resolve the controversial issue of preventing a hard border in Ireland, the UK would also have to agree on a customs agreement with the EU. This means that the UK should have a so-called `Norway Plus` solution. This could limit its ability to negotiate its own trade agreements. The agreement includes several stocks, which improves the prospects for cooperation. After all, the agreements were spared big shocks until 2020, but they now face a monumental – Brexit.

To keep the Irish border as open as it is today, you should add a new customs union (or equivalent agreement) with the EU – a “Norway plus” solution, if you will. Norway is a member, along with Lichtenstein and Iceland, of the European Economic Area (EEA) and the European Free Trade Association (EFTA), which grants it unlimited access to the EU internal market and only guarantees very limited restrictions on trade with the EU. (Switzerland is also a member of EFTA, but it is not a member of the EEA. In return, Norway makes a significant contribution to the EU budget and must comply with many EU rules and legislation, but it has no say in how these rules are drawn up. According to the theory, this would give the UK time to negotiate a free trade agreement with the EU for the future. The EEA agreement gives Norway access to the EU`s internal market. Of the current 23,000 EU laws[8], the EEA has included about 5,000 (in force)[9], meaning that Norway is subject to about 21% of EU legislation. According to the Norwegian Ministry of Foreign Affairs (NOU 2012:2 p.

790, 795), 70% of EU directives and 17% of EU rules in force in the EU in 2008 were in force in Norway in 2010. [10] Overall, this means that in 2010, about 28% of the EU legislation in force in 2008 was in force in Norway. While the Norwegian parliament must adopt all new legislation that has “significant new obligations”, this proposal has been widely supported and, as a rule, uncontested; Between 1992 and 2011, 92% of EU legislation was adopted unanimously, with most others by a large majority. [11] It is therefore about as close to the EU as it can be without a Member State. And if the UK were to follow suit, it would mean that its trade relations with its closest neighbours could remain as they are today. The EFTA Court of Justice is linked to the European Court of Justice for EEA-EFTA state issues. The EFTA Court of Justice reviews infringement proceedings brought by the EFTA Supervisory Authority against an EEA-EFTA state and deals with disputes between two or more EEA-EFTA states. Theresa May said today in Oslo that Norway`s relations with the EU were “elements that would not respect the vote of the British people.” One of the central principles of the EEA agreement is homogeneity, which means that the same competition rules and competitive conditions apply to all EEA economic operators. In order to maintain homogeneity, the EEA agreement is constantly updated and amended to ensure that the legislation of the EEA-EFTA states complies with eu internal market rules.