This UK-Faroe Islands Free Trade Agreement (FTA) can take effect on 29 March 2019 if the UK leaves the EU without a deal, or at the end of an implementation period.
Summary of the agreement
The FTA between the UK and the Faroe Islands is a goods-only trade agreement. It maintains the effects of the EU-Faroe Islands agreement in a bilateral context.
The UK-Faroe Islands FTA covers:
- rules of origin
- preferential tariffs and quotas
- customs and energy-related provisions
- provisions on institutions
As the agreement only covers goods, it does not contain chapters commonly found in FTAs, for example, services and intellectual property rights.
Type of agreement
This is a free trade agreement.
When the agreement is active
This agreement can take effect when the EU-Faroe Islands agreement no longer applies to the UK.
It is expected that this will be at the end of the implementation period if the withdrawal agreement is ratified, or on 29 March 2019 if the UK leaves the EU without a deal.
Explanatory memorandum
Information on the free trade agreement including:
- ministerial responsibility
- policy considerations
- implementation
Parliamentary report
Details of, and reasons for, any significant differences between the existing EU-Faroe Islands agreement and the new UK-Faroe Islands Free Trade Agreement.
Treaty text
Agreement establishing a free trade agreement between the UK and the Faroe Islands.
Department for International Trade
The Department for International Trade is a UK government department responsible for managing trade agreements between the UK and foreign countries, as well as for encouraging foreign investment and export trade.
