Free trade “to the max” between the United Kingdom and Liechtenstein
Minister Dominique Hasler signed in London the most comprehensive agreement ever for the Principality’s access to another country’s markets
On behalf of the Principality of Liechtenstein, Government Councillor Dominique Hasler signed the Free Trade Agreement between her country, the other EEA/EFTA states of Iceland and Norway, and the United Kingdom on Thursday, July 8, 2021.
Great Britain is actually one of Liechtenstein’s most important trading partners. After Brexit, the goal was therefore to gain as much market access as possible in the UK.
The free trade agreement with London is the most comprehensive that Liechtenstein has concluded to date. It covers cross-border trade in services, including financial services, as well as areas such as investment, intellectual property protection, digital trade, capital movements and government procurement.
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In particular, the agreement prevents discrimination against companies from the European Union and offers Liechtenstein’s economic players preferential market access in comparison with countries which do not have an agreement with the United Kingdom.
The agreement creates legal certainty for companies in the Alpine Principality and contributes to the further development of close economic relations.
The movement of goods between Liechtenstein and the United Kingdom will continue to be regulated by the supplementary agreement to the trade agreement between Switzerland and Great Britain and Northern Ireland, which already entered into force on January 1, 2021.
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Bilateral meetings in the City with a much broader spectrum
On the sidelines of the signing ceremony, Government Councillor Dominique Hasler had the opportunity to exchange views with British Trade Minister Ranil Jayawardena.
She also took advantage of her stay in the City to meet with the British Minister for Europe, Wendy Morton.
The two ministers discussed current foreign policy priorities. The U.K. holds the presidency of the G7 this year and will host the Conference of the Parties to the Framework Convention on Climate Change in November.
For Standard & Poor’s Liechtenstein is a triple A country
