Norway has confirmed that it will contribute €400m a year to boost social and economic equality in Europe in exchange for improved access for Norwegian exports in EU markets, especially fish and seafood.

Norway’s contributions will go to projects ranging from public health initiatives to renewable energy in the 15 EU member states where the gross national income per person is less than 90 percent of the EU average.

The Norwegian Fisheries ministry said it had agreed on new and extended duty-free quotas for certain types of processed fish such as herring and mackerel.

“This is a very good agreement,” said Vidar Helgesen, the government minister in charge of issues involving the EU and Norway’s so-called EØS pact, the agreement that regulates trade between the EU and the European Free Trade Association, which comprises the European countries  - Norway, Iceland and Lichtenstein - that are not members of the EU.

The new EØS pact remains subject to approval in the Parliament and by EU member countries.

Read the full story: thelocal.no
Photo: Innovation Norway