Policy paper

UK-Norway, Iceland, and Liechtenstein FTA: joint declaration on financial services

Published 16 July 2021

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This publication is available at https://www.gov.uk/government/publications/uk-norway-iceland-and-liechtenstein-free-trade-agreement-joint-declarations/uk-norway-iceland-and-liechtenstein-fta-joint-declaration-on-financial-services

  1. The Parties affirm their intention to support financial services market access through deference arrangements at each Party’s discretion[footnote 1].

  2. The Parties recognise that through the Agreement on the European Economic Area (EEA Agreement), the three EEA EFTA States – Iceland, Liechtenstein and Norway – participate fully in the Internal Market of the European Union (EU). The aim of the EEA Agreement is to achieve a homogeneous EEA based on common rules and equal conditions of competition. This involves the incorporation of EEA-relevant EU acts into the EEA Agreement and a two-pillar structure encompassing supervision and judicial control.

  3. The Parties also recognise that this internal market includes financial services and is based on the harmonisation of regulation for financial services between EEA Contracting Parties.

  1. Such arrangements include, but are not limited to, equivalence decisions. ↩

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