Liechtenstein Ambassador Claudia Fritsche, US Trade Representative Rob Portman, Norwegian Ambassador Knut Vollebaek, and Icelandic Ambassador Helgi Agustsson, signed agreements earlier this week which are intended to save manufacturers the time and expense of unnecessary product testing while maintaining high levels of health and safety protection.
The pacts - called mutual recognition agreements (MRAs) - eliminate redundant product testing on telecommunications equipment, electromagnetic compatibility (EMC), recreational craft and marine equipment, thereby lowering prices for consumers and conserving regulators' resources. The agreements are worth some $200 million to $300 million in trans-Atlantic trade.
"Today's agreements build upon our successful approaches with the EU to facilitate trans-Atlantic trade and promote regulatory cooperation,” noted Mr Portman in an October 17 statement.
Although not members of the European Union, Norway, Iceland and Liechtenstein belong to the European Economic Area and are integrated fully into the European Community's single market. The new MRAs parallel the existing US MRAs with the European Community.
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