EU and UK reach a post-Brexit trade agreement

According to European media, the EU and the United Kingdom reached a post-Brexit trade agreement on the 24th. After the two parties reached an agreement, the President of the European Commission von der Lein quoted the famous British poet Shakespeare saying that the EU will bring a “light worry” to the United Kingdom. Goodbye.

The British government and the European Union announced on the 24th that the two sides have reached a consensus on a post-Brexit free trade agreement, confirming that Britain will withdraw from the European Union. European Commission President Von der Lein said at a press conference: “This is a long and tortuous road, but we have a good agreement to show the world.”
British Prime Minister Johnson tweeted a picture of himself giving a thumbs up in front of the Union Jack. The picture is also accompanied by the text, “Complete the transaction.” According to a British source, the agreement is “the largest bilateral trade agreement signed by both parties, covering a trade value of 747 billion euros.”

The agreement also ended the 11-month transition period negotiations. After Britain officially withdrew from the European Union on January 31, it set a transition period for the two sides to negotiate on future trade and competition terms. Through this agreement, the EU and the United Kingdom can avoid resorting to disputes in the WTO trade terms.

Trade agreement details

The entire trade agreement is said to have about 2,000 pages, and neither party has made the content of the agreement public. However, the leaders of the two sides mentioned the main aspects of the agreement at a press conference on the 24th. The United Kingdom said the agreement protects its goal of regaining control of its own funds, borders, laws and fishing waters. After the end of the transition period, the UK will no longer be subject to the jurisdiction of the European Court of Justice.

Von der Lein said that this agreement protects the European Union’s single market and includes safeguards to ensure that the United Kingdom will not weaken the European Union’s standards through unfair means.

Controversy over fishing rights

On the key issue of fisheries, the EU will abandon its quarter of its quota in British waters. This is far below the 80% originally required by the UK. The system will be implemented for 5.5 years, after which the two sides will reassess the quota share.

The British government will support its fishing with an investment of 111 million euros, thereby realizing the process of fishery modernization. British Prime Minister Johnson said: “We will be able to catch and eat an incredible amount of fish.”
Barnier, the EU’s chief negotiator for Brexit, said that the EU “will fight side by side with European fishermen and provide them with support” and promised that the EU-UK trade agreement “lays the foundation for obtaining water and resources through reciprocal means. And readjust the catch quota and fishing opportunities”.

Future trade relations between the EU and the UK

Barnier, the EU’s chief negotiator for Brexit, said: “From January 1, 2021, many citizens and companies will face some real changes. This is the consequence of Brexit. ” There will be no tariffs between the UK and the EU. Free trade. Barnier said at a press conference that a new set of rules called “level playing field” will become the hallmark of all relevant EU free trade agreements.

European Commission President Von der Lein said that the UK and the EU will continue to cooperate in areas with shared interests, including climate, energy, security, intelligence and transportation.

British Prime Minister Johnson pointed out that this agreement protects the ability of the police to cooperate and share intelligence. However, the two politicians have maintained a certain degree of vagueness in details. The British Prime Minister said he “believes that this is definitely an agreement that can protect the police cooperation between the two sides, and also ensure the ability of Britain and the European Union to catch criminals and share intelligence on the European continent, because the relevant matters have been established for many years.”

It is reported that Britain will no longer participate in the Erasmus project. This program enables EU university students to study for a period of time at different European universities and practice language skills. Johnson said that the UK plans to replace the Erasmus Project with the Turing Project named after the mathematician Alan Turing. Students will be able to study in universities around the world for a period of time.

The President of the European Commission, von der Lein, said that after a long and exhausting negotiation, she finally felt “free”. She also quoted an English poet saying in Shakespeare’s play Romeo and Juliet, saying that “this parting is so sweet and sad.”

In addition, Von Delane also quoted the British-American poet Eliot, emphasizing that “what we call the beginning is often the end, and the end is the beginning.” She said: “It’s time to put aside Brexit. Our future will be created in Europe.”
Barnier, the chief negotiator of the European Union, said that “time will not pass anymore.” This is completely different from the warning stance he issued after the two sides broke up during the trade talks in August. Barnier said he regrets that the agreement between the two sides on freedom of movement does not reflect the close historical relationship between the European Union and the United Kingdom.

British Prime Minister Johnson called the agreement a “huge Canadian-style free trade agreement.” He reshaped Britain as an “independent coastal country.” Johnson said: “We have regained the power to control our own laws and destiny. We will no longer be bound.”

He said that the EU is “a very noble group”, but the relationship between Britain and the group has been difficult. Under the framework of the new agreement, the UK has now become the best backing for the EU. He added: “This agreement represents the result that the British people desire in 2016.”

In the trade and business section, Johnson said: “For the EU, Brexit will not be a bad thing, because on their doorstep, there will be a prosperous and vibrant Britain.”

Johnson refuted questions from reporters about the UK’s compliance with EU rules in taxation, workers’ rights and tariffs, and also refuted the argument that London had accepted the long-term boycott of “a level playing field with the EU”.
Merkel and Macron speak out

German Chancellor Merkel said after the EU and the United Kingdom reached a trade agreement that the agreement was “historic.” She emphasized that she was “very confident” and this was a good result.

French President Emacron thanked Barnier, the chief negotiator of the European Union, on Twitter, emphasizing that he was “persistently committed to safeguarding the interests of Europeans.” He added: “Europe shows its power through solidarity.”

source: Trade