Europe and United Kingdom Reach-Brexit Trade Agreement | Economy

Europe and United Kingdom Reach-Brexit Trade Agreement |  Economy

The European Union and the United Kingdom finalized the trade agreement on Thursday (24), which will determine how relations will take place after Brexit, with the country exiting.

The agreement must be ratified by both the European Union and the British parliaments of 27 countries.

Negotiations took 11 months to determine the terms. In the last few days, the great pending issue was related to international sea fishing.

Apart from the question of fisheries in the seas of the United Kingdom, another issue that impeded understanding was the guarantee that the United Kingdom would not change its environmental or labor laws nor subsidize its companies, giving them an advantage. Contestants of the continent will not do this.

The clause will allow for continuity of trade between the two parties. European Commission President Ursula von der Leyen said in an interview, “We finally managed to agree. It was a long and tortured way. It is a fair and balanced agreement and it is the right and responsible thing for both sides.” ” the collective.

The agreement has come into effect from January 1.

The British voted to leave the European Union four and a half years ago. Formally, the United Kingdom was already out of the bloc before 31 January, but a transition period was forecast for the end of 2020, with the United Kingdom continuing to abide by EU trade rules and regulations, as well Commercial Fee of Maintained Block. After that, it becomes a “third country”, but a trusted partner said, von der Leyen.

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It was only possible to reach an understanding after Prime Minister Boris Johnson of the United Kingdom, made concessions and allowed fishing in the country’s seas.

Johnson posted a picture on a social network showing him with his arms raised and the words “The deal is closed”.

Peace agreement with Northern Ireland

Johnson promised to keep the terms of the 1998 agreement which provided that there would be no formal border between Ireland (which does not belong to the United Kingdom) and Northern Ireland (which is part of the United Kingdom, on the same island Ireland despite being).

He said the new agreement would stabilize his country’s relationship with the European bloc: “I think we have the basis for a new long-term friendship and partnership that basically stabilizes the relationship.”

According to him, this is the end of an issue that has plagued UK politics for decades, and now is the time for the country to become truly independent and make the most of this time.

See below a video on the terms of the agreement between the United Kingdom and the European Union.

Brexit: European negotiators recall that there is a few hours to finalize the trade agreement

The European Parliament will review the terms of the agreement before the end of the year, said David Sasoli, Speaker of the House on a social network. See what he said:

“I welcome the agreement on the future of relations between the European Union and the United Kingdom. This may now be the basis for a new partnership. However, the ‘last minute’ nature of the terms does not allow for a suitable investigation by the European. Sal. Parliament before the end of the year. Now, the European Parliament will analyze the terms, so that it can be decided that before agreeing with them we will act responsibly to alleviate the problems of the citizens and avoid the scenario of chaos. ”

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According to Johnson, the British Parliament will vote on 30 December.

Videos: Most Viewed by G1

Sarah Gracie

About the author: Sarah Gracie

Sarahis a reporter covering Amazon. She previously covered tech and transportation, and she broke stories on Uber's finances, self-driving car program, and cultural crisis. Before that, she covered cybersecurity in finance. Sarah's work has appeared in The Wall Street Journal, Bloomberg, Politico, and the Houston Chronicle.

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