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Gitanas Nauseda, who is advisor to the president of SEB Bankas, said the UK will most likley have to give in on the issue of free movement of labour, a core principle of the EU, in order to maintain free trade in goods and services with the bloc.
This is despite the fact that reducing immigration to Britain was a key issues in the Brexit referendum and was seen as a key factor in many Britons voting to leave the EU.
"I believe it is in Britain's interest to have the most favourable possible trade regime with the EU. The Norwegian model is perhaps the most likely," he said.
"It is possible that there will be increasing political support in Britain for certain concessions in the area of free movement of labour and people in exchange for the most favourable possible trade regime with the EU,” Nauseda said.
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